[Solana surges to 4-month peak, approaching $200 mark]
Solana is heading towards a yearly high of $210.03 on the back of increasing demand. As news of Trump's victory broke, trading volume surged to $8.33 billion, a three-month high. Currently, Solana’s price is trading above the 20-day EMA, indicating strong bullish sentiment in the market that may continue to rise in the near term.
Solana's RSI is at 66.87, indicating strong upside momentum, and it has not yet entered overbought territory, suggesting there is room to rise. As of now, Solana is trading at $189.11, above the support at $186.40. If demand continues to be strong, the price will challenge $193.34 and even revisit the highs of $210.03.
If buying weakens or profit-taking occurs, the price could drop back to $186.40 or even test $171.78.
