SOL price outlook
Solana price is trading with an uptrend, holding firmly within an ascending parallel channel. It faces immediate resistance due to the average threshold of $177.24. This is the midline of the area extending from $167.78 to $187.01.
An assertive close above this barrier would see SOL price extend profits to the next resistance levels between $194.12 and $202.47. A break above its midline at $198.28 would signal a strong move upwards. SOL may continue to rise to regain the peak of 210.18 USD of the March 19 trading session.
Momentum indicators suggest SOL investors are bracing for more buying momentum. This is seen by the relative strength index (RSI) crossing its signal band (yellow band). The moving average Convergence Divergence indicator (MACD) is also at the threshold of crossing its signal range (orange band). These crosses show that bullish sentiment is growing and a positive price move is highly likely.
On the other hand, a rejection from the channel's midline and a slip below the $162.75 support could trigger a sell-off. However, the bullish outlook for SOL was only neutralized when Solana price closed below $126.88 in a one-day time frame.
