Solana Eyes $200 Mark Amid Strong Bullish Momentum

SOL breaks resistance levels, fueled by solid technical indicators

Solana (SOL) has continued its impressive rally, surpassing multiple resistance levels and reaching a high of $192. With sustained buying pressure and key technical support, SOL appears poised to test the critical $200 level in the coming days.

The rally kicked off with a significant price jump past $162, following similar upward trends in Bitcoin and Ethereum. After establishing a strong support base above $172, SOL swiftly climbed to break resistance levels at $165 and $172, building momentum for further gains.

Key technical developments are fueling SOL’s bullish run. Analysts highlight a crucial breakout above a bearish trend line at $162 on the hourly SOL/USD chart, marking a shift in market sentiment and suggesting a potential path toward additional price growth.

The move accelerated past the $185 mark, setting a new local high of $192. SOL is currently consolidating near this level, well above its 100-hourly simple moving average, a sign of ongoing bullish strength. Additionally, SOL remains above the 23.6% Fibonacci retracement level from its recent low at $155 to its peak at $192, indicating that buyers are maintaining market control.

Immediate resistance now lies at $192, with the $195 level posing the next challenge for SOL bulls. If the current momentum persists, the $200 level—a psychological resistance point—could soon be within reach. Analysts are also watching higher targets at $212 and $220, which could come into play if the rally extends.

Potential support levels are also clear should a correction occur. Initial support is anticipated at $188, followed by a stronger support zone near $180. A move below $172 could test the $165 support level, where the 50% Fibonacci retracement level may offer additional protection against further declines.

Technical indicators remain positive. The hourly MACD shows strong momentum in the bullish zone, and the Relative Strength Index (RSI) is well above 50, suggesting continued buying interest. Trading volumes have also increased, indicating that market participants are actively supporting the current price action.

Price action around the $192 resistance shows lower volatility, suggesting a consolidation phase as traders gauge the next potential move. This phase could serve as a foundation for a push beyond $200 if market conditions remain favorable.

Throughout recent trading, SOL’s price structure has shown higher lows and higher highs, a classic indicator of an uptrend. This technical pattern suggests continued upward momentum, supported by ample liquidity on major exchanges, which provides stability against sudden market fluctuations.

As of the latest data, SOL is holding above its $172 support level with steady trading around the $192 resistance, leaving the market in anticipation of its next move as it approaches the $200 milestone.

photo source / Blockonome