🚀 Solana Breaks Barriers: Is $190 Next? Discover Key Levels Now! 🔥

Solana's $SOL/USDT recent surge has caught the market's attention, with traders eyeing whether the rally can sustain.

Current Price: $171.17

Immediate Resistance Levels:

- $172.20: The first hurdle to overcome, marked by the recent swing high. A decisive break above this could fuel further upside momentum.

- $172.70: A significant resistance level, aligning with the 200-period simple moving average on the chart. Breaking this could signal continued uptrend potential.

- $176: A psychological resistance level that could attract selling pressure.

Immediate Support Levels:

- $170.85: The first level of support, defined by the recent swing low. A dip below this could invite short-term profit-taking.

- $169.68: A deeper pullback could find buyers around this level, aligning with the 50-period exponential moving average on the chart.

- $166.66: A stronger support zone, representing the 100-period simple moving average. A breach here would raise concerns among bulls.

Range-bound Scenario:

If SOL fails to break above $176 or below $166.66, it could trade within this range. Traders might buy near the lower end ($166.66-$169.68) and sell near the upper end ($172.20-$176).

Bullish Scenario:

A sustained move above $176, with increasing volume and bullish momentum, could signal an uptrend continuation. Key resistance levels to watch would be $180, $185, and $190.

Bearish Scenario:

If SOL fails to hold above $166.66, it could indicate a potential reversal. Additional selling pressure might push the price towards $163.64, $160, and $155.

Prioritize risk management when trading cryptocurrencies due to their volatility. Stay vigilant and trade safely! 🛡️