Solana Price Prediction: SOL Breaks Key Resistance – What This Means for Future Gains
Main Idea
Solana's price has broken a key resistance level and is consolidating around $185, with technical indicators suggesting potential further gains towards $220, supported by network upgrades and institutional interest.
Key Points
1. Solana's price broke the $180 resistance level and is consolidating around $185, with potential targets at $192 and $205.
2. The Solana network increased its block capacity by 20%, enabling more transactions per block.
3. An inverse head-and-shoulders pattern on the SOL/USDT chart suggests a bullish reversal with a target of $220.
4. Nasdaq-listed DeFi Development Corp is close to acquiring 1 million SOL, and Bit Mining plans to raise $200-300 million for a Solana treasury.
5. The RSI reading of 67.04 indicates continued strength without excessive buying pressure.
Description
Solana’s price continues to consolidate around the $185 level, following its successful breach of a critical resistance level near $180 last Friday. This breakthrough positions SOL for potential runs toward the next resistance targets at $192 (initial barrier) and $205 (significant resistance zone) . Trading at $187.19, SOL has demonstrated impressive recovery momentum, posting a 31% gain over the past month while maintaining a market capitalization of $100 billion. Solana didn’t make noise this...
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