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Solana Rises Again: Can the Bulls Break Through $188?
Solana (SOL) is once again gaining momentum after bouncing from the $175 support zone. The cryptocurrency has recovered above $182 and is now trading comfortably above the 100-hour simple moving average, signaling that bullish sentiment is returning. After slipping below $188, SOL found strong support at $175 and staged a rebound. The recovery took the price past $180 and $182, with a breakout above a bearish trendline near $183, adding to the optimism. The next test for Solana lies at the $188 resistance. A successful close above this level could open the doors for a move toward $192, which corresponds to the 50% Fibonacci retracement level of the decline from $210 to $175. Beyond that, resistance is seen near $195 and then at the psychological $200 mark. If bulls manage to clear $195, it would likely set the stage for a rally back toward $210. However, if SOL fails to surpass $188, it risks losing momentum. Initial support is located around $184, followed by $180. A decisive break below $180 could trigger a retest of the $175 zone, and if that fails, the price might slide further down toward $166.
Technical indicators: Hourly MACD – gaining strength in the bullish zoneHourly RSI – holding above the 50 levelKey support levels – $180 and $175Key resistance levels – $188 and $192 In summary, Solana is at a critical juncture. A breakout above $188 could reinforce a bullish continuation, while rejection at this level may push the price into another corrective phase.
#solana , #sol , #Altcoin , #CryptoMarket , #CryptoAnalysis
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