In recent days, Solana has shown significant growth, reaching its first profit target at $168. Traders are watching closely for price behavior.
Strong Breakout Followed by Key Test
Solana (SOL) recently delivered a powerful breakout move, hitting its first profit target at $165 and briefly overshooting to $168. This rally followed technical signals shared days before the breakout occurred. Now, attention turns to the next phase of the trend: support confirmation.
Key Support Levels to Watch
Currently, Solana is experiencing a healthy pullback after its bullish surge. The question now facing traders and investors is whether SOL can hold above the critical 200-day Exponential Moving Average (EMA), or if it will dip further to test the 20-day EMA, currently sitting around $153.
Momentum Intact, But Patience Needed
While the recent breakout shows strong upward momentum for SOL, pullbacks are a natural part of market structure. Whether this current dip is a brief retest or the start of a deeper correction depends on how price behaves around these EMAs.
Solana continues to attract attention from traders, given its recent movements and key support levels. The future of SOL will depend on its ability to hold at the specified levels.
