The technical indications point to today’s bullish Solana price prediction, as we expect further gains after the $190 support held overnight. The $220 resistance is the next hurdle.

Today, we can observe that SOL/USD is currently trading at $214, up 2% from yesterday. After testing the $190 support level again, buyers took control, culminating in an advance above $215 and a decisive breach above the $220 resistance zone. Therefore, we can fairly assume that the price is currently in an upward trend due to today’s rise in value past the prevailing trend line.

While a negative price swing is likely in the next weeks and months, there appears to be definite upward potential currently with resistance at $220, which has already been challenged successfully. As a result, we expect further gains as the $190 support stopped the market from falling lower overnight. The $220 resistance is the next hurdle.

Today, we can see that SOL/USD is trading at $214, up 1% from yesterday, and after testing the $190 support level again, buyers gained control, gaining from $215, followed by a decisive breach above the $220 resistance zone. Therefore, we can reasonably assume that the price is currently increasing and trading within an ascending channel on the daily chart due to today’s rise in value past the existing trend line.

SOL/USD 4-hour chart: Is SOL headed for a test of $220 resistance?

On the 4-hour chart, we can see that Solana prices have been rising this morning, indicating that the $220 barrier level will most likely be tested.

Solana Price Analysis: SOL/USD to break above the daily resistance of $220 1

Solana‘s price activity has seen a lot of selling returns in recent weeks. However, in November, the stock began a significant increase culminating in a new all-time high of $260.

After that, the pair retraced to $210 and bounced. It climbed to $220 a week later before sliding back. After a small gain on November 13th, the slump accelerated, bringing the price down to $220. Support kept more losses at bay at first, resulting in some consolidation.

However, the price of Solana plummeted sharply on Saturday afternoon after breaking below its 61.8 percent Fibonacci retracement line. This was followed by a more dramatic break lower, reducing the price of Solana to $190. The swing low was re-tested overnight, prompting a slight upward reaction. However, the further decline cannot be ruled out. Thus SOL/USD should react higher; the nearest support is $210.

Conclusion of the Solana Price Analysis

Today’s Solana price analysis is positive, and we expect more increases after the $190 support level was broken, halting further selling. As a result, the next target for SOL/USD should be $220, which is the closest resistance level.

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