Solana (SOL) Holds Strong at Critical Support—Is a Massive Rally Imminent?

Solana's SOL isn't just surviving—it's thriving. After defending a crucial support zone, the crypto asset shows signs of gearing up for its next explosive move.

Why this matters: SOL's resilience at key levels signals potential bullish momentum. Traders eyeing the charts are whispering about a repeat of its historic runs—while skeptics mutter 'here we go again' over their lattes.

The technical setup: No fancy jargon here. Price held where it needed to, liquidity's stacking up, and the crowd's getting restless. When SOL wakes up, it doesn't tiptoe.

Wall Street's watching—between sips of their overpriced bourbon—as decentralized infrastructure outmuscles legacy systems. Again.

Bottom line: Either SOL's priming for liftoff, or we're all about to learn another expensive lesson in crypto volatility. Place your bets.

Solana Price Aims For Fresh Increase

Solana price started a decent increase after it found support near the $185 zone, like Bitcoin and Ethereum. SOL climbed above the $192 level to enter a short-term positive zone.

The price even smashed the $200 resistance. The bulls were able to push the price above the $202 barrier. A high was formed at $210 and the price recently corrected gains below the 23.6% Fib retracement level of the upward MOVE from the $174 swing low to the $210 high.

There was a break below a bullish trend line with support at $202 on the hourly chart of the SOL/USD pair. However, the bulls were active NEAR the $188 level and the 61.8% Fib retracement level of the upward move from the $174 swing low to the $210 high.

Solana is now trading above $190 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $198 level. The next major resistance is near the $200 level.

The main resistance could be $202. A successful close above the $202 resistance zone could set the pace for another steady increase. The next key resistance is $210. Any more gains might send the price toward the $220 level.

Another Decline In SOL?

If SOL fails to rise above the $200 resistance, it could start another decline. Initial support on the downside is near the $192 zone. The first major support is near the $188 level.

A break below the $188 level might send the price toward the $180 support zone. If there is a close below the $180 support, the price could decline toward the $175 support in the near term.

Technical Indicators

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

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

Major Support Levels – $192 and $188.

Major Resistance Levels – $200 and $210.