The price of Solana ($SOL) demonstrates significant growth, holding around $186.24, which marks a 4.83% increase over the last 24 hours. This is also accompanied by changes in market structure and trading volume.
Factors for Solana Price Surge
This price rally is driven by several factors:
1. From a technical standpoint, the token is at a key resistance range around $175 - $185. 2. The RSI currently stands at 59.17, providing room for continued recovery towards overbought territory. 3. The MACD has enacted a bullish crossover with the histogram in positive territory at +0.69.
Market sentiment also plays a significant role. Noted crypto analyst Professor Moriarty stated: "If bullish momentum continues, $SOL could move to $205–$225 in the short term, and in the longer term, potentially break past $300."
Key Support and Resistance Levels
According to TradingView chart data, the current support and resistance levels for Solana are clear:
* Support at $178 is crucial for maintaining the bullish structure. * Resistance at $190 is the level to beat for a potential breakout.
If the price of Solana closes above $190 with strong volume, the next targets could be $195–$200. However, if it fails to break this level, it could fall back to $178.
A loss of $178 could open the door to a more significant drop to $165–$168, which is a key long-term support area.
Predictions for Solana Price
In the short term (1–7 days), a break above $190 could quickly lead to $200. In the mid-term (1–4 weeks), sustained trading above $190 could push prices to $210–$215. In the long term (1–3 months), a monthly close above $200 may trigger a rally toward $230–$300.
However, top cryptocurrency analysts warn that if Bitcoin's price weakens, it could slow altcoins' momentum, making it important to closely monitor Bitcoin's price dynamics.
In summary, today's news regarding $SOL appears bullish based on both technical signals and market confidence. The main concern remains whether it can break past the $190 resistance and maintain momentum to reach $300.
