Solana (SOL) broke through the resistance level of 210 on November 10, indicating that the bulls are making an effort to assert their position.
If the price closes above 210, this will signal the beginning of the next growth phase. The SOL/USDT pair could rise to 260, where the bears are expected to mount a strong counterattack.
Conversely, if the price fails to close above $210, this will indicate that the market has rejected the breakout. In that case, the pair could drop to 189, which is an important short-term support level to watch. Sliding below 189 could cause the pair to decrease further to the 20-EMA level (178).
The pair has bounced off the 20-day EMA line, indicating that the bulls are buying on slight dips. The bulls have pushed the price above the resistance level of 210, paving the way for a potential rally to 230 and eventually to 260.
This positive outlook will no longer be valid in the short term if the price turns back down below the 20-day EMA line. At that point, the pair could drop to the 50-day SMA line, delaying the start of the next bullish phase.
