Back on Track: Solana (SOL) Is the Uptrend Permanent?

Solana rose from $215. SOL is climbing and may break $240 and $250 resistance.

After breaking $222 versus the US Dollar, SOL price rose again.

The price is over $230 and the 100-hourly SMA.

SOL/USD broke over a negative trend line with resistance at $232 on the hourly chart.

If bulls break $240, the pair may rise again.
Solana Price Expects Rise

Solana price found stability and rose over $220 like Bitcoin and Ethereum. A good gain occurred over $225 and $230 resistance levels.

Beyond the 50% Fib retracement level of the decline from the $246 swing high to the $215 low. Additionally, the hourly SOL/USD chart broke above a significant negative trend line with resistance at $232.

Above $235 and the 100-hourly simple moving average, Solana trades. The upward barrier is $240, the 76.4% Fib retracement level of the decline from the $246 swing high to the $215 low.

Near $246 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 toward $280.

SOL Decline Again?

SOL might tumble again if it fails to break $240 resistance. The 100-hourly simple moving average or $230 provide first downward support. First significant support is around $220.

A breach below $220 may push prices to $215. If the stock closes below $215, it may fall toward $200.

Tech Indicators

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

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

Major Support Levels: $230, $220.

Two major resistance levels: $240 and $250.

#SOL #BNBHitsATH #AIAndGameFiBoom #BinanceBNSOLPYTH $SOL