The post Solana Price Holds Above $190, Eyes $225 and $260 appeared on BitcoinEthereumNews.com.

Solana (SOL) is maintaining strong support at $190, positioning itself for a possible breakout toward $225 or $260. Analysts point to key resistance and support levels, suggesting that SOL is at a decisive technical point. The asset is currently trading near the lower boundary of an ascending channel, indicating the potential for a bullish move if buyers maintain control. Solana Price Key Support and Resistance Levels According to market analyst Ali, $190 is a critical level supported by the 0.618 Fib retracement level at $187.41. Historically, this price range has been a strong area for demand, preventing deeper price drops. This indicates that if Solana price maintains this support level, then it could recover its value toward the higher resistance levels. – Advertisement – On the upside, the first resistant level is around $225. That is in line with the 0.786 fibonacci retracement level at $219.50. Its breakout above this level could lead towards $260 which is a part of the upper trend line of the channel. Thus, if the momentum continues its rise, new higher targets of $320 and $355 will act as optimistic objectives proceeding from the Fibonacci indicators. Trend and Market Structure Solana price has been in an upward phase where the price has always respected the upward ascending parallel channel. The lower boundary represents the support level and each pull back back to this area leads to the price rising. As the middle of the channel has inverted, price action was rejected here near $260 before. However, if SOL manages to reclaim the lower bound, it will be able to form a higher low pattern which will hint at further accumulation of orders to buy. Solana Price Faces Resistance as It Struggles Below Moving Averages However, SOL is currently restrained by short-term moving averages after it…

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Filed under: News - @ February 15, 2025 10:10 pm