Key Takeaways:

  • SOL price is consolidating gains above the $162 resistance.

  • A major bullish trend line is forming with support at $152 on the daily chart.

  • Solana could continue to rise toward the $195 and $200 resistance levels.

Solana price prediction

Solana (SOL) is showing positive signs above $162. The bulls seem to be in action and might soon aim for a move toward $200.

Solana Price Eyes More Upsides

In the last technical analyses, we saw how Solana gained pace above the $150 and $155 resistance levels. The bulls were able to push the price above the main resistance at $162 like Bitcoin at $66,500. It even settled above the $162 resistance and the 50-day simple moving average (blue).

The price climbed above the 61.8% Fib retracement level of the key decline from the $194.32 swing high to the $109.79 low. All these are positive signs and suggest chances of more upsides above $170.

Solana price daily chart | Source: SOL/USD on TradingView.com

Solana is now consolidating gains near the 76.4% Fib retracement level of the key decline from the $194.32 swing high to the $109.79 low. The last two days were bullish, and the price increased by over 5%, settling above $170.

Immediate resistance is near the $178 level, and the first major resistance is near the $185 level. A clear move above the $185 level could send SOL toward the next key resistance at $194.

A successful daily close above the $194 resistance might open the doors for a test of the $200 handle. If the bulls remain in action, the price could rise toward the $212 level in the coming days. The next major resistance is at $220, above which the bulls might aim for $235.

Recently, Solana wrapped up the final Hacker House of 2024 and announced that the Solana Summit will soon return to APAC in June 2025.

Wrapping up the final @hackerhouses of 2024, and what a journey it’s been! Looking ahead to 2025 Attendees in Hong Kong were the first to hear it: @SolanaSummitOrg is returning to APAC in June 2025!Get ready for the return of Solana’s biggest founder and developer summit pic.twitter.com/UJmRQQteqT

— Solana Summit | APAC (@SolanaSummitOrg) October 26, 2024

Another Rejection In SOL?

Conversely, SOL might struggle to surpass the $178 resistance and start a downside correction. Immediate support is near the $162 level (the recent breakout zone).

The first major support is near the $152 level, a bullish trend line on the same chart, and the 50-day simple moving average (blue). If the daily close is below the trend line and the 50-day simple moving average (blue), the bears could gain strength.

Solana could decline toward the $135 support zone in the stated case. Any more losses could send SOL toward the $120 support zone soon.

Overall, the price of Solana is gaining strength above $162. The current price action suggests SOL could soon rise toward the $195 and $200 levels.

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