Solana Rising Rapidly Towards the $200 Target! Why Has SOL Coin Become So Attractive?
The rise of Solana in the cryptocurrency markets has accompanied the rise of other cryptocurrencies.
The recent volatility in the #SOL price has caused investors to turn their eyes to this popular cryptocurrency.
SOL price increased significantly, especially against the US Dollar, and tested the $188 resistance.
SOL Coin is on the agenda with an impressive increase
Currently, SOL is trading near $180.
A key bullish trend line is forming with support at $175 on the hourly chart of the SOL/USD pair.
However, if the pair fails to sustain above $175, it may struggle to surpass the $188 resistance.
This upward trend in Solana price started after a support base was formed near $166. SOL managed to move above the $175 and $180 resistance levels, moving into a positive zone following the rise of other major cryptocurrencies such as Bitcoin and Ethereum.
It tested the $188 high resistance.
Solana is currently trading above $180. The $175 support level on the hourly chart is supporting a significant uptrend.
An immediate resistance lies near $185 and the next major resistance is near $188.
If there is a successful close above the $188 resistance, it could herald a new big increase for SOL.
The next key resistance level is located near $195 and further gains could push SOL price towards the $200 level.
