SOL Price Crosses $200 Milestone, What’s Next For Solana?

Solana is gaining bullish momentum above $200. SOL value remains to be displaying constructive indicators, and it may even surpass the $220 resistance within the close to time period.

SOL value gained bullish momentum and cleared the $200 resistance in opposition to the US Greenback.
The value is now buying and selling above $200 and the 100 easy shifting common (4 hours).
There’s a connecting bullish development line forming with help at $195 on the 4-hour chart of the SOL/USD pair (information supply from Kraken).
The pair may proceed to rally if it clears the $205 and $212 resistance ranges.

Solana Worth Extends Rally

Solana value remained robust above the $150 degree and prolonged its rally. There was an honest enhance above the $165 and $180 ranges.

The value is up almost 20% and there was a transfer above the $200 degree, outperforming Bitcoin and Ethereum. A brand new multi-month excessive was fashioned close to $204, and the worth is now consolidating features. It’s steady above the 23.6% Fib retracement degree of the upward transfer from the $142 swing low to the $204 excessive.

There may be additionally a connecting bullish development line forming with help at $195 on the 4-hour chart of the SOL/USD pair. Solana is now buying and selling above $200 and the 100 easy shifting common (4 hours).

Supply: SOLUSD on TradingView.com

Fast resistance is close to the $205 degree. The following main resistance is close to the $212 degree. A profitable shut above the $212 resistance may set the tempo for one more main enhance. The following key resistance is close to $220. Any extra features may ship the worth towards the $232 degree.

Are Dips Supported in SOL?

If SOL fails to rally above the $205 resistance, it may begin a draw back correction. Preliminary help on the draw back is close to the $195 degree and the development line.

The primary main help is close to the $175 degree or the 50% Fib retracement degree of the upward transfer from the $142 swing low to the $204 excessive, beneath which the worth may take a look at $165. If there’s a shut beneath the $165 help, the worth may decline towards the $150 help or the 100 easy shifting common (4 hours) within the close to time period.

Technical Indicators

4-Hours MACD – The MACD for SOL/USD is gaining tempo within the bullish zone.

4-Hours RSI (Relative Energy Index) – The RSI for SOL/USD is above the 50 degree.

Main Help Ranges – $19, and $175.

Main Resistance Ranges – $205, $212, and $220.

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