Solana (SOL) Eyes $210 as It Approaches Make-or-Break Resistance Zone

Source Beincrypto

Solana’s price has maintained an upward trend in recent days, fueled by increased demand for the popular altcoin. Currently trading at $148.06, SOL has risen by 2% in the past week despite broader market stagnation.

This uptrend has brought SOL to a key resistance level at $148.16, which it is now attempting to break. If Solana manages to surpass this resistance, it could spark a rally toward $210 and beyond. But how soon can this breakout occur?

Solana Witnesses Uptick In Demand

Solana’s Relative Strength Index (RSI) is in an upward trend at 53.93 as of this writing. This indicator measures the coin’s oversold and overbought market conditions.

It ranges between 0 and 100, with values above 70 suggesting that the asset is overbought and due for a correction. On the other hand, values below 30 indicate that the asset is oversold and may soon witness a rebound. 

An RSI reading of 53.93 indicates that SOL buyers are gradually gaining strength, which could cause its price to maintain its uptrend. 

Read more: Solana vs. Ethereum: An Ultimate Comparison

Solana RSISolana RSI. Source: TradingView

Moreover, SOL’s positive Balance of Power (BoP) supports this bullish outlook. This indicator measures the strength of buyers versus sellers in the market. At press time, SOL’s BoP is 0.44, suggesting buyers are in control and attempting to push the price higher. 

Solana RSI. Solana BoP. Source: TradingView

SOL Price Prediction: A Succesful Retest Is Key

Solana is trading at $148.06, just below the resistance at $148.16. Since early August, this price level has seen significant selling pressure, with SOL attempting to break above it several times. Despite these efforts, each retest has failed to hold.

If the ongoing demand for SOL persists, the coin may rally beyond this resistance. A successful retest could trigger a surge toward $209.90, a high Solana’s price last reached in March.

Read more: Solana (SOL) Price Prediction 2024/2025/2030

Solana Price AnalysisSolana Price Analysis. Source: TradingView

However, a failed retest of this resistance line could send Solana’s price plummeting toward $110.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Fed Officials Speak Out in Force to Back Rate Cut! December Cut Now a Done Deal? Will the FOMC Meeting Be Delayed?TradingKey - San Francisco Federal Reserve President Mary Daly has voiced support for a rate cut at next month's meeting, citing the greater likelihood and harder-to-manage risk of a sudden deteriorat
Author  TradingKey
7 hours ago
TradingKey - San Francisco Federal Reserve President Mary Daly has voiced support for a rate cut at next month's meeting, citing the greater likelihood and harder-to-manage risk of a sudden deteriorat
placeholder
Bitcoin Bleeds to $86K, But This Key Indicator Screams "The Top Isn't In"Bitcoin’s adjusted Spent Output Profit Ratio (aSOPR) has spent nearly two years coiling below the extremes seen at past bull-market peaks, even as BTC trades around $86,300 and down 9% on the week — a setup that leaves open the possibility that this cycle’s true top may still lie ahead.
Author  Mitrade
10 hours ago
Bitcoin’s adjusted Spent Output Profit Ratio (aSOPR) has spent nearly two years coiling below the extremes seen at past bull-market peaks, even as BTC trades around $86,300 and down 9% on the week — a setup that leaves open the possibility that this cycle’s true top may still lie ahead.
placeholder
Gold Price Forecast: XAU/USD rises to near $4,150 as Fed rate cut bets growGold price (XAU/USD) attracts some buyers to around $4,140 during the early Asian session on Tuesday. The precious metal rises on growing expectations of a US Federal Reserve (Fed) interest rate cut in the December policy meeting.
Author  FXStreet
16 hours ago
Gold price (XAU/USD) attracts some buyers to around $4,140 during the early Asian session on Tuesday. The precious metal rises on growing expectations of a US Federal Reserve (Fed) interest rate cut in the December policy meeting.
placeholder
U.S. Q3 Earnings Season Nears Close as Investors Eye Dell, HP Results.U.S. October PCE Price Index Released【The week ahead】TradingKey - Last week, concerns over an AI bubble, coupled with fading expectations for Federal Reserve rate cuts, triggered a broad sell-off in U.S. equities. The tech-heavy Nasdaq Composite (.IXIC.
Author  TradingKey
Yesterday 10: 18
TradingKey - Last week, concerns over an AI bubble, coupled with fading expectations for Federal Reserve rate cuts, triggered a broad sell-off in U.S. equities. The tech-heavy Nasdaq Composite (.IXIC.
placeholder
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP Attempt Recovery Post-SelloffBitcoin trades back above $87,700 after a 20% drop, while Ethereum rebounds from support around $2,749 and XRP recovers above $2.08 off its $1.96 floor, as BTC, ETH and XRP all try to turn last week’s steep correction into the start of a broader recovery.
Author  Mitrade
Yesterday 05: 58
Bitcoin trades back above $87,700 after a 20% drop, while Ethereum rebounds from support around $2,749 and XRP recovers above $2.08 off its $1.96 floor, as BTC, ETH and XRP all try to turn last week’s steep correction into the start of a broader recovery.
goTop
quote