#币安Alpha公布第6批项目
Solana is poised for a surge, is a new wave of significant price increases about to sweep the market?
The price of Solana (SOL) is steadily above $175. Currently, the price of SOL is recovering ground, moving towards targets of $200 and $205.
Since establishing a foothold around $175, the price of SOL has embarked on a new upward trend. The price has now surpassed $190 and the 100-hour simple moving average.
On the hourly chart of SOL/USD, the price has broken through the previous bearish trend line, which was around $185 (data from Kraken). If the bulls can break through $205, the price of SOL may welcome a new round of significant increases.
The price of SOL now has solid support, just like Bitcoin and Ethereum, and has started a new round of increases from $185. After breaking through the resistance points of $190 and $192, the price of SOL has risen significantly.
On the hourly chart of SOL/USD, the price has not only broken through the resistance level of $190 but has also climbed above $195, even testing the 50% Fibonacci retracement level of the downward trend from the high of $228 to the low of $175.
However, the price of SOL is currently encountering considerable resistance near $200. Fortunately, the trading price of SOL remains steadily above $190 and the 100-hour simple moving average. Looking upwards, around $202 is a significant resistance level.
The next important resistance level is around $208, which is the 61.8% Fibonacci retracement level of the downward trend from the high of $228 to the low of $175. Greater resistance lies at $215.
But if SOL cannot break through the resistance level of $208, it may decline again. On the downside, around $195 is a preliminary support level, while around $188 is an important support level.
If the price drops below $180, it may continue to fall towards the $175 area. If the closing price is below $175, the price of SOL may fall to the support level of $162 in the short term.
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