Solana Price Analysis: It Can Reach $180 in This Upward Momentum

Solana continues to show positive signs on the 4-hour chart, after its price bounced off the 50% Fibonacci retracement level around $147.51, which was considered the pivot point for the price. This bounce has paved the way for an upside move, as SOL has managed to clear the 23.6% Fibonacci retracement level at $153.88, which is acting as a major support area now. If the price fails to hold above this support level, we may see further re-correction, which could lead the price towards the 38.2% Fibonacci retracement level at $150.36 or below towards the 50% Fibonacci retracement level at $147.51. On the other hand, a break above $158.33 would pave the way for Solana to test the next major resistance level at $165. The 50-day range is $151.33 and is providing strong support, while the RSI reading of 55 indicates that buying interest is holding. Overall, if Solana holds the current support levels and breaks above $158.33, we may see the price rally towards $165 or above. $SOL