Solana Trades Above $190 After Breakout, Targets $300–$360 Amid ETF Optimism and Strong Momentum
Main Idea
Solana's price breaks above $190 with strong momentum, targeting $300–$360 amid ETF optimism and supported by technical indicators and Fibonacci levels.
Key Points
1. Solana's breakout above $190 signals a strong uptrend, with Fibonacci extension targets at $220, $241, $275, and $352.
2. Key support levels are identified at $145 and $174 (0.618 and 0.786 Fibonacci retracement levels), mitigating downside risk.
3. Technical indicators like RSI (above 80) and MACD reinforce bullish momentum, though RSI suggests potential short-term overbought conditions.
4. Optimism around a potential Solana ETF approval in 2025 (99% probability per Polymarket) has driven investor sentiment and price rally.
5. Trading volume and market structure support the breakout's validity, indicating a healthy uptrend if no external shocks occur.
Description
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