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
U.S. November CPI: How Will Inflation Fluctuations Transmit to US Stocks? Tariffs Are the Key!TradingKey - Inflation exerts a notable impact on the stock market. Since the Trump administration took office, it has imposed substantial tariff hikes, and the effects of this policy have gradually f
Author  TradingKey
7 hours ago
TradingKey - Inflation exerts a notable impact on the stock market. Since the Trump administration took office, it has imposed substantial tariff hikes, and the effects of this policy have gradually f
placeholder
Coinbase Builds a “Universal Exchange” — Wall Street Shrugs. Can COIN Find Its Footing?Coinbase is expanding into stock trading, prediction markets and perpetuals to build a “universal exchange,” but COIN fell over 3% to $244 as Bitcoin hovered near $85,000, even while Deutsche Bank reiterated a Buy and a $340 target amid intensifying competition.
Author  Mitrade
8 hours ago
Coinbase is expanding into stock trading, prediction markets and perpetuals to build a “universal exchange,” but COIN fell over 3% to $244 as Bitcoin hovered near $85,000, even while Deutsche Bank reiterated a Buy and a $340 target amid intensifying competition.
placeholder
Bitcoin Hits $90K as Crypto Market Surge Wipes Out $120M in Short PositionsBitcoin ascended to $90,000 before a swift correction, impacting both long and short positions.Liquidity maneuvers continue to dominate BTC's short-term price dynamics, with recent sessions squeezing short sellers.
Author  Mitrade
8 hours ago
Bitcoin ascended to $90,000 before a swift correction, impacting both long and short positions.Liquidity maneuvers continue to dominate BTC's short-term price dynamics, with recent sessions squeezing short sellers.
placeholder
Gold declines on profit-taking, USD strength ahead of US CPI releaseGold price (XAU/USD) edges lower below $4,350 during the Asian trading hours on Thursday. The precious metal retreats from seven-week highs amid some profit-taking and a rebound in the US Dollar (USD).
Author  FXStreet
9 hours ago
Gold price (XAU/USD) edges lower below $4,350 during the Asian trading hours on Thursday. The precious metal retreats from seven-week highs amid some profit-taking and a rebound in the US Dollar (USD).
placeholder
Australian Dollar deepens losses despite rising Consumer Inflation ExpectationsThe Australian Dollar (AUD) loses ground against the US Dollar (USD) on Thursday for the sixth successive day.
Author  FXStreet
15 hours ago
The Australian Dollar (AUD) loses ground against the US Dollar (USD) on Thursday for the sixth successive day.
goTop
quote