Solana (SOL) Momentum: $250 May Just Be The Start

Solana rose from $220. SOL price is climbing and seeking a sustained run over $250.

After hitting $225 versus the US Dollar, SOL price rose again.

The price is over $240 and the 100-hourly SMA.

SOL/USD broke over a negative trend line with resistance at $240 on the hourly chart.

If bulls break $250, the pair may rise again.

#Solana Price Expects Growth

Solana price found stability and rose over $225 like Bitcoin and Ethereum. A solid rise occurred over $230 and $232 barrier levels.

It moved over the 50% Fib retracement level of the $256 swing high to $221 low decline. Additionally, the hourly SOL/USD chart broke above a significant bearish trend line with resistance at $240.

Above $240 and the 100-hourly simple moving average, Solana trades. The upward barrier is $244, the 61.8% Fib retracement level of the decline from the $256 swing high to the $221 low.

Solana Price
Source: TradingView.com SOLUSD
Near $248 is the next significant resistance. The primary obstacle may be $250. A closing above $250 resistance might start another steady rise. The next hurdle is $265. More advances might push the price beyond $278.

Does SOL Support Dips?
SOL may fall if it fails to break $248 resistance. The 100-hourly simple moving average or $240 provide first downward support. Near $232 is the first big support.

A breach below $232 might push the price near $230. If the price closes below $230, it may fall below $220.

Tech Indicators

SOL/USD hourly MACD is rising in the positive zone.

Hourly RSI – RSI for SOL/USD is over 50.

Major Support Levels: $240, $232.

Two major resistance levels: $248 and $250.

#Solana #ThanksgivingBTCMoves #MarketBuyOrHold? $SOL