CandleFocus Solana (SOL) Could Soon Rally Past $250—Are Bulls in Control?
2024-11-19
Author: Content Editor
Solana's price has experienced a fresh increase above the $220 level and is currently consolidating its gains. It has surpassed key resistance levels at $225 and $240, reaching a high of $248. The price is currently trading above $230 and the 100-hourly simple moving average. A bullish trend line has formed with support at $237. On the upside, resistance levels are seen at $245, $248, and $250, with a successful close above $250 potentially leading to further gains towards $265 and $282. However, if the price fails to break above $245, it may continue to move down, with initial support at $237 and the trend line. The next major support levels are at $230 and $220, with a close below $220 potentially leading to a decline towards $212. Technical indicators, such as the hourly MACD and RSI, suggest bullish momentum for Solana.
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