Solana (SOL) Rally Builds – Can Bulls Extend Gains Beyond Key Levels?

Solana started a fresh increase above the $212 ￰0￱ price is now consolidating above $210 and might aim for more gains above the $218 ￰1￱ price started a fresh upward move above the $202 and $210 levels against the US ￰2￱ price is now trading above $210 and the 100-hourly simple moving ￰3￱ is a bullish trend line forming with support at $212 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could extend gains if it clears the $218 resistance ￰4￱ Price Eyes Additional Gains Solana price started a decent increase after it found support near the $200 zone, beating Bitcoin and ￰5￱ climbed above the $205 level to enter a short-term positive ￰6￱ price even smashed the $212 ￰7￱ bulls were able to push the price above the $215 barrier.

A high was formed at $218 and the price is consolidating ￰8￱ was a minor drop below the 23.6% Fib retracement level of the upward move from the $199 swing low to the $217 ￰9￱ is now trading above $210 and the 100-hourly simple moving ￰10￱ is also a bullish trend line forming with support at $212 on the hourly chart of the SOL/USD ￰11￱ the upside, the price is facing resistance near the $218 ￰12￱ next major resistance is near the $220 ￰13￱ main resistance could be $232. A successful close above the $232 resistance zone could set the pace for another steady ￰14￱ next key resistance is $244. Any more gains might send the price toward the $250 ￰15￱ Correction In SOL?

If SOL fails to rise above the $218 resistance, it could start another ￰16￱ support on the downside is near the $212 ￰17￱ first major support is near the $208 level or the 50% Fib retracement level of the upward move from the $199 swing low to the $217 high. A break below the $208 level might send the price toward the $204 support ￰18￱ there is a close below the $204 support, the price could decline toward the $200 support in the near ￰19￱ Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish ￰20￱ Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 ￰21￱ Support Levels – $212 and $208. Major Resistance Levels – $218 and $220.