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Solana (SOL) Gearing Up: Is a New Surge on the Horizon?

Solana remained stable above the $175 level. SOL price is trump coin price prediction todaynow recovering losses and facing hurdles near the $200 and $205 levels.


  • SOL price started a fresh increase after it tested the $175 zone against the US Dollar.

  • The price is now trading above $190 and the 100-hourly simple moving average.

  • There was a break above a connecting bearish trend line with resistance at $185 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 $205 zone.


Solana Price Eyes Upside Break


Solana price formed a support base and started a fresh increase from the $185 level like Bitcoin and Ethereum. There was a decent increase above the $190 and $192 resistance levels.


There was a break above a connecting bearish trend line with resistance at $190 on the hourly chart of the SOL/USD pair. The pair climbed above $195 and tested the 50% Fib retracement level of the downward move from the $228 swing high to the $175 low.


However, the price is now facing many hurdles near $200. Solana is now trading above $190 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $202 level.


Solana Price

The next major resistance is near the $208 level or the 61.8% Fib retracement level of the downward move from the $228 swing high to the $175 low. The main resistance could be $215. A successful close above the $220 resistance level could set the pace for another steady increase. The next key resistance is $235. Any more gains might send the price toward the $250 level.


Another Decline in SOL?


If SOL fails to rise above the $208 resistance, it could start another decline. Initial support on the downside is near the $195 level. The first major support is near the $188 level.


A break below the $180 level might send the price toward the $175 zone. If there is a close below the $175 support, the price could decline toward the $162 support in the near term.


Technical Indicators


Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.


Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.


Major Support Levels – $195 and $188.


Major Resistance Levels – $208 and $215.