Rally

Solana

Bitcoin

Resistance

Solana is gaining bullish momentum above $200. SOL price is still showing positive signs, and it could even surpass the $220 resistance in the near term. 
<ul> 
 <li>SOL price gained bullish momentum and cleared the $200 resistance against the US Dollar.</li> 
 <li>The price is now trading above $200 and the 100 simple moving average (4 hours).</li> 
 <li>There is a connecting bullish trend line forming with support at $195 on the 4-hour chart of the SOL/USD pair (data source from Kraken).</li> 
 <li>The pair could continue to rally if it clears the $205 and $212 resistance levels.</li> 
</ul> 
<h2 id="solana-price-extends-rally">Solana Price Extends Rally</h2> 
Solana price remained strong above the $150 level and extended its <a href="https://www.newsbtc.com/analysis/sol-price-breaks-150/" target="_blank" rel="noopener ">rally</a>. There was a decent increase above the $165 and $180 levels. 
The price is up nearly 20% and there was a move above the $200 level, outperforming Bitcoin and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-grinds-lower-3400/" target="_blank" rel="noopener ">Ethereum</a>. A new multi-month high was formed near $204, and the price is now consolidating gains. It is stable above the 23.6% Fib retracement level of the upward move from the $142 swing low to the $204 high. 
There is also a connecting bullish trend line forming with support at $195 on the 4-hour chart of the SOL/USD pair. Solana is now trading above $200 and the 100 simple moving average (4 hours). 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/Solana_f3319d.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-598388" src="https://www.newsbtc.com/wp-content/uploads/2024/03/Solana_f3319d.png?resize=1024%2C461" alt="SOL Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/Solana_f3319d.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/03/Solana_f3319d.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/Solana_f3319d.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/Solana_f3319d.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/Solana_f3319d.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/Solana_f3319d.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/Solana_f3319d.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/SOLUSD/" target="_blank" rel="noopener nofollow">SOLUSD on TradingView.com</a> 
Immediate resistance is near the $205 level. The next major resistance is near the $212 level. A successful close above the $212 resistance could set the pace for another major increase. The next key resistance is near $220. Any more gains might send the price toward the $232 level. 
<h2 id="are-dips-supported-in-sol">Are Dips Supported in SOL?</h2> 
If SOL fails to rally above the $205 resistance, it could start a downside correction. Initial support on the downside is near the $195 level and the trend line. 
The first major support is near the $175 level or the 50% Fib retracement level of the upward move from the $142 swing low to the $204 high, below which the price could test $165. If there is a close below the $165 support, the price could decline toward the $150 support or the 100 simple moving average (4 hours) in the near term. 
Technical Indicators 
4-Hours MACD – The MACD for SOL/USD is gaining pace in the bullish zone. 
4-Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. 
Major Support Levels – $19, and $175. 
Major Resistance Levels – $205, $212, and $220.

SOL Price Crosses $200 Milestone, What’s Next For Solana?

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