Solana (SOL) Faces Headwinds: Can Bulls Revive Momentum?

Solana remained stable above the $215 level. SOL price is now recovering losses and facing hurdles near the $228 and $332 levels.

SOL price started a fresh increase after it tested the $215 zone against the US Dollar.The price is now trading below $225 and the 100-hourly simple moving average.There was a break above a connecting bearish trend line with resistance at $222 on the hourly chart of the SOL/USD pair (data source from Kraken).The pair could start a fresh increase if the bulls clear the $228 zone.

Solana Price Eyes Upside Break

Solana price formed a support base and started a fresh increase from the $215 level but lagged momentum like Bitcoin and Ethereum. There was a decent increase above the $218 and $220 resistance levels.

There was a break above a connecting bearish trend line with resistance at $222 on the hourly chart of the SOL/USD pair. The pair climbed above $225 and tested the 50% Fib retracement level of the downward move from the $234 swing high to the $215 low.

However, the price is now facing many hurdles near $225. Solana is now trading below $225 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $225 level.