Solana (SOL) Bulls Eye Control – Will Recovery Turn Into a Surge?

Solana started a fresh increase from the $195 ￰0￱ price is now recovering higher and might aim for a move above the $205 resistance ￰1￱ price started a recovery wave after it tested the $195 zone against the US ￰2￱ price is now trading below $205 and the 100-hourly simple moving ￰3￱ was a break above a connecting bearish trend line with resistance at $201 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $205 resistance ￰4￱ Price Eyes Steady Recovery Solana price extended losses after there was a close below $205, like Bitcoin and ￰5￱ traded below the $200 and $195 support levels to enter a short-term bearish zone.

A low was formed at $194 and the price is now attempting a fresh ￰6￱ price surpassed the $198 and $200 resistance ￰7￱ was a move above the 23.6% Fib retracement level of the downward move from the $218 swing high to the $194 low. Besides, there was a break above a connecting bearish trend line with resistance at $201 on the hourly chart of the SOL/USD ￰8￱ is now trading below $205 and the 100-hourly simple moving ￰9￱ the upside, the price is facing resistance near the $202 ￰10￱ next major resistance is near the $205 level or the 50% Fib retracement level of the downward move from the $218 swing high to the $194 ￰11￱ main resistance could be $209.

A successful close above the $209 resistance zone could set the pace for another steady ￰12￱ next key resistance is $218. Any more gains might send the price toward the $225 ￰13￱ Decline In SOL? If SOL fails to rise above the $205 resistance, it could continue to move ￰14￱ support on the downside is near the $200 ￰15￱ first major support is near the $195 level. A break below the $195 level might send the price toward the $188 support ￰16￱ there is a close below the $188 support, the price could decline toward the $184 support in the near ￰17￱ Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish ￰18￱ Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 ￰19￱ Support Levels – $200 and $195.

Major Resistance Levels – $205 and $209.