Solana (SOL) Roars Back to Life – Is a $200 Breakout Imminent?

Solana's native token SOL is flexing its muscles again—defying the crypto winter with a surge that has traders eyeing a potential breakout above $200.

After months of sideways action, SOL's chart is printing the kind of momentum that makes degens whisper 'bull flag.'

Can it shatter resistance and reclaim its ATH glory? Or is this just another fakeout to lure in overleveraged longs? (Spoiler: Wall Street still doesn’t get it.)

Solana Price Gains Momentum

Solana price started a decent increase after it found support near the $175 zone, like Bitcoin and Ethereum. SOL climbed above the $180 level to enter a short-term positive zone.

The price even smashed the $185 resistance. The bulls were able to push the price above the 50% Fib retracement level of the downward MOVE from the $206 swing high to the $175 low. There is also a key bullish trend line forming with support at $190 on the hourly chart of the SOL/USD pair.

Solana is now trading above $190 and the 100-hourly simple moving average. On the upside, the price is facing resistance NEAR the $195 level. It is close to the 61.8% Fib retracement level of the downward move from the $206 swing high to the $175 low.

The next major resistance is near the $198 level. The main resistance could be $200. A successful close above the $200 resistance zone could set the pace for another steady increase. The next key resistance is $212. Any more gains might send the price toward the $225 level.

Are Downsides Limited In SOL?

If SOL fails to rise above the $200 resistance, it could start another decline. Initial support on the downside is near the $190 zone and the trend line. The first major support is near the $188 level.

A break below the $188 level might send the price toward the $184 support zone. If there is a close below the $184 support, the price could decline toward the $175 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 – $190 and $188.

Major Resistance Levels – $195 and $200.