- Solana price is trading at around $193.67 and showing resistance to the key level at $210 in the daily timeframe.
- Solana’s price may dip to $175 if resistance holds, then re-test for breakout.
- Fibonacci targets are set at $250, $310, and $360 if the price breaks above $210.
Solana price is gaining momentum again after a brief pullback. Traders are eyeing a major resistance point, as the cryptocurrency gets close. A breakthrough may drive prices to a higher level with targets at $250, $310 and $360 levels. Market analysts anticipate a major buying and selling movement as volume and purchasing strength begin to accumulate.
Solana Price Key Resistance at $210 Draws Market Attention
Solana price is currently at close of $193.67 and approaching a resistance at $210. This price zone has served as a resistance to date and has denied any additional moves upward. The daily chart indicates that higher lows took place since April, which has a bullish effect on the price. According to analysts, this trend comprises an ascending triangle.
The triangle pattern, often seen during consolidation, suggests that a strong move may follow if the resistance breaks. According to market analyst Ali, Solana price might re-test its ascending trendline support before heading higher. He added in a post on X, “This could be the final dip-buying chance before a breakout.”
Technical indicators suggest that if the price can close above $210, then further gains are likely. Fibonacci extension levels show the next possible targets at $250, $310, and $360. Traders are cautious, however, as volume confirmation is still required. Breakouts without volume often fail to hold gains.
Source: Ali Chart/X
While the trend appears bullish, there is still a chance of a pullback. If the price fails to break $210, a drop to the $175 zone may happen. This level has seen strong demand in the past, making it a likely area for buyers to return.
Market participants are also aware of upcoming macroeconomic events. These could bring short-term volatility. Many are waiting for clear signals before taking larger positions. The Solana price market remains driven by both technical and broader market trends.
For now, the chart structure remains constructive. As long as higher lows continue, the upside remains possible. Analysts expect that if volume rises during a breakout, it may lead to a sustained rally. For now, attention stays on the $210 level, as it may decide the short-term direction for Solana.
Read Also:
