Solana ($SOL ) has been consolidating within a symmetrical triangle pattern on the 4-hour chart, suggesting a potential breakout. The immediate support level is identified at $191, with resistance at $192.25. A decisive move above $192.25 could propel SOL toward the psychological barrier of $200, while a decline below $191 might lead to a retracement to $180 or lower.
Additionally, SOL has been trading above its 50-day and 200-day Exponential Moving Averages (EMAs), indicating sustained bullish momentum. The convergence of these EMAs with the current price suggests that a significant price movement may be imminent.
Traders should monitor these key levels and moving averages closely, as they will provide insights into SOL's potential price direction in the near term.
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