Solana (SOL) Stays Strong – Can Bulls Fuel the Next Breakout?

Solana started a fresh increase above the $215 ￰0￱ price is now consolidating above $212 and might aim for more gains above the $220 ￰1￱ price started a fresh upward move above the $205 and $212 levels against the US ￰2￱ price is now trading above $212 and the 100-hourly simple moving ￰3￱ is a bullish trend line forming with support at $216 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could extend gains if it clears the $220 resistance ￰4￱ Price Eyes Upside Break Solana price started a decent increase after it found support near the $202 zone, beating Bitcoin and ￰5￱ climbed above the $208 level to enter a short-term positive ￰6￱ price even smashed the $215 ￰7￱ bulls were able to push the price above the $218 barrier.

A high was formed at $220 and the price is consolidating gains above the 23.6% Fib retracement level of the upward move from the $199 swing low to the $220 ￰8￱ is now trading above $212 and the 100-hourly simple moving ￰9￱ is also a bullish trend line forming with support at $216 on the hourly chart of the SOL/USD ￰10￱ the upside, the price is facing resistance near the $220 ￰11￱ next major resistance is near the $228 ￰12￱ main resistance could be $232. A successful close above the $232 resistance zone could set the pace for another steady ￰13￱ next key resistance is $244. Any more gains might send the price toward the $250 ￰14￱ Correction In SOL?

If SOL fails to rise above the $220 resistance, it could start another ￰15￱ support on the downside is near the $216 zone and the trend ￰16￱ first major support is near the $210 level or the 50% Fib retracement level of the upward move from the $199 swing low to the $220 high. A break below the $210 level might send the price toward the $202 support ￰17￱ there is a close below the $202 support, the price could decline toward the $195 support in the near ￰18￱ Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish ￰19￱ Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 ￰20￱ Support Levels – $216 and $210.

Major Resistance Levels – $220 and $232.