Solana Price Outlook: Can SOL Break the $200 Barrier in October? đ
Solana recently bounced off its key support level of $131, sparking interest in whether it can surge past $200 in October. Over the past 24 hours, the total trading volume has reached $928.94 million, with the current price sitting at $143.48. Despite a 0.50% decline, Solana remains the fifth-largest cryptocurrency with a market cap of $67.23 billion.
With around 470 million SOL coins circulating, Solanaâs rebound from the crucial $133 support suggests a potential upward movement is on the horizon.
Solanaâs Key Support and Resistance Levels đ
Solanaâs recent recovery can be attributed to a strong support zone around $133, aligned with an upward trendline visible on the 4-hour chart. This momentum has driven SOL toward testing immediate resistance at $144, coinciding with the 38.2% Fibonacci retracement level.
If SOL breaks this resistance, it could aim for the next targets at $147.45 and the 61.8% Fibonacci level at $150.86.
In case of a price reversal, key support levels are located at $139.89, $136.62, and $133.04. A drop below $133 may interrupt the current bullish trend, leading to further declines.
On a positive note, the Relative Strength Index (RSI) is just below 50, suggesting that a break above this level could trigger renewed bullish momentum. đȘ$SOL
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