Solana (SOL) Smashes $200, Bulls Now Target $220–$250 Zone

Solana started a fresh increase above the $185 zone.

SOL price is now correcting gains and might find bids near the $195 support zone SOL price started a fresh upward move above the $185 and $192 levels against the US Dollar.

The price is now trading above $195 and the 100-hourly simple moving average.

There is a key bullish trend line forming with support at $199 on the hourly chart of the SOL/USD pair (data source from Kraken).

The pair could start a fresh increase if it clears the $205 resistance zone.

Solana Price Gains Momentum Solana price started a decent increase after it cleared the $180 resistance, like Bitcoin and Ethereum .

SOL climbed above the $185 level to enter a short-term positive zone.

The price even smashed the $200 resistance.

A high was formed at $207 and the price is now correcting gains.

There was a move below the $205 level and toward the 23.6% Fib retracement level of the upward move from the $178 swing low to the $207 high.

Solana is now trading above $195 and the 100-hourly simple moving average.

There is also a key bullish trend line forming with support at $199 on the hourly chart of the SOL/USD pair.

On the upside, the price is facing resistance near the $205 level.

The next major resistance is near the $208 level.

The main resistance could be $215. A successful close above the $215 resistance zone could set the pace for another steady increase.

The next key resistance is $232. Any more gains might send the price toward the $245 level.

Are Downsides Limited In SOL? If SOL fails to rise above the $208 resistance, it could start another decline.

Initial support on the downside is near the $199 zone and the trend line.

The first major support is near the $195 level.

A break below the $195 level might send the price toward the $192 support zone or the 50% Fib retracement level of the upward move from the $178 swing low to the $207 high.

If there is a close below the $192 support, the price could decline toward the $185 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 above the 50 level.

Major Support Levels – $199 and $192. Major Resistance Levels – $208 and $215..

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