Solana (SOL) Poised to Hit $200 with Strong Buyer Support

Jakarta, Pintu News – Solana (SOL) has started a new leg up from the $165 zone. Now, SOL price is gaining strength and may look for further gains above the $180 zone.

Solana Price Increase Above $172

Solana (SOL) formed a base above the $165 support and started a new rise, similar to Bitcoin (BTC) and Ethereum (ETH). SOL accelerated its movement past the $170 and $172 resistance levels. Market participants managed to push the price past the $175 level.

The highest peak was formed at $177.50 and now price is consolidating gains above the 23.6% Fibonacci retracement level of the recent wave from $165 to $177.50. Solana (SOL) is now trading above $172 and the 100-hour simple moving average. There is also a bullish trend line connecting with support at $170 on the hourly chart of the SOL/USD pair.

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Potential Solana Price Increase

On the upside, the price faces resistance near the $178 level. The next major resistance is near the $180 level. The major resistance could be $185. A successful close above the $185 resistance zone could set the pace for another steady rise. The next key resistance is $192. Further gains will probably send the price towards the $200 level.

Possible Solana Price Reduction

If Solana (SOL) fails to rise above the $180 resistance, the price could start falling again. Initial support on the downside is near the $174.50 zone. The first major support is near the $172 level or the 50% Fibonacci retracement level of the recent wave from $165 to $177.50. In case of a break below the $172 level, the price may head towards the $170 zone and the trend line. If there is a close below the $170 support, the price could drop towards the $162 support in the short term.

Technical Indicators

The hourly MACD for SOL/USD is gaining momentum in the bullish zone. The hourly RSI (Relative Strength Index) for SOL/USD is above the 50 level. The key support levels are $172 and $170. The key resistance levels are $178 and $180.

Conclusion

With strong buyer support, Solana (SOL) shows potential to reach the $200 level. However, it is necessary to be aware of the downside potential if it does not manage to break the key resistance. Investors and traders should monitor technical indicators and support levels to make informed decisions.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Solana (SOL) Aims Higher, $200 Next?. Accessed on May 22, 2025
• Featured Image: Generated by AI