Solana (SOL) has decisively breached the critical $200 resistance level, reaching a peak of $206.30 in today’s trading session. This upward movement is bolstered by robust trading volume and strengthening technical indicators, fueling optimism among investors.
Technical analysis reveals sustained bullish signals with a high Relative Strength Index (RSI) reading of 73.06 and positive MACD momentum. However, this elevated RSI suggests SOL has entered overbought territory, indicating heightened risk of a short-term price correction despite current strength.
Key resistance now forms between $205 and $210, while critical support lies in the $185-$190 range necessary for maintaining bullish continuity. Although market sentiment remains optimistic due to SOL’s performance, traders should exercise caution due to potential volatility and prevailing overbought conditions.
Should SOL successfully break above $210, the next major target stands at $250. Conversely, failure to hold above $185 support could trigger a retracement toward the $170 level, prompting portfolio adjustments among risk-sensitive investors.