Solana (SOL) Bullish Momentum Catches Analysts' Attention: Is $500 A Possibility?

Solana has been on an uptrend since rebounding from the $122 mark in September. Recently, the SOL token broke past descending logarithmic resistance to test the psychological $200 level.

Solana (SOL) price is up close to 18% in the past 24 hours and has surged over 370% year-to-date. The impressive rally saw SOL briefly trade above the psychological $200 level on Thursday.

Solana Price Analysis

Solana’s price is currently facing resistance at the 200 moving average on the daily chart. The 50 moving average is also providing some support at around $175. A break below this level could lead to a pullback in the short term.

On the upside, resistance is seen at the 206 moving average and the 38.2% Fibonacci retracement level from the recent swing low at around $206. A break above this level could lead to further gains in the short term.

Solana’s technical indicators are bullish on the daily chart. The RSI is at 72, indicating that SOL is in overbought territory. The MACD is also bullish, with the signal line crossing above the 0 line.

Solana price pulled back from the 200 moving average on Thursday but found support at the 50 moving average. A break above the 200 moving average could lead to further gains in the short term.

Solana Price Analysis: Key Levels To Watch

Solana’s price is currently facing resistance at the 200 moving average on the daily chart. The 50 moving average is also providing some support at around $175. A break below this level could lead to a pullback in the short term.

On the upside, resistance is seen at the 206 moving average and the 38.2% Fibonacci retracement level from the recent swing low at around $206. A break above this level could lead to further gains in the short term.

Solana’s technical indicators are bullish on the daily chart. The RSI is at 72, indicating that SOL is in overbought territory. The MACD is also bullish, with the signal line crossing above the 0 line.

Solana price pulled back from the 200 moving average on Thursday but found support at the 50 moving average. A break above the 200 moving average could lead to further gains in the short term.

Solana Price Analysis: Key Levels To WatchSolana’s price is currently facing resistance at the 200 moving average on the daily chart. The 50 moving average is also providing some support at around $175. A break below this level could lead to a pullback in the short term.

On the upside, resistance is seen at the 206 moving average and the 38.2% Fibonacci retracement level from the recent swing low at around $206. A break above this level could lead to further gains in the short term.

Solana’s technical indicators are bullish on the daily chart. The RSI is at 72, indicating that SOL is in overbought territory. The MACD is also bullish, with the signal line crossing above the 0 line.

Solana price pulled back from the 200 moving average on Thursday but found support at the 50 moving average. A break above the 200 moving average could lead to further gains in the short term.