An analysis of the price of Solana as it bounces from the $131 support level — Will SOL Be Able to Break $200 in October?

There has been a total trading volume of $928.94 million over the last 24 hours, and the current price of Solana is $143.48. Although it has seen a decline of more than 0.50% over the course of the last twenty-four hours, it continues to be the fifth biggest cryptocurrency, with a market valuation of $67.23 billion.

Considering that there are around 470 million SOL coins in circulation, the recent comeback of Solana from its major support level of $133 indicates that a probable positive move is taking place in the near future.

A Price Analysis of Solana, Including Important Support and Resistance Levels

The current rebound of Solana may be attributed to a robust support zone located around $133, which coincides with an ascending trendline that can be seen on the 4-hour chart.

Taking advantage of this rising momentum, SOL has been driven to challenge the immediate resistance level at $144, which coincides with the 38.2% Fibonacci retracement level.


SOL has the potential to make significant progress toward the next resistance level, which is located at $147.45, and eventually the 61.8% Fibonacci level, which is located at $150.86, if it is able to break over this critical obstacle.


On the off chance that the price moves in the other direction, the first support level is located at $139.89, followed by $136.62 and $133.04. If the price were to go below $133, it would most certainly halt the present positive trend, which would then lead to more falls.

On the other hand, the Relative Strength Index (RSI) is now hovering just below the 50 mark, which indicates that a break above this level might indicate a resurgence of bullish momentum.

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