- Solana bounced off 50-day EMA support with strong momentum
- Price now testing $205 resistance for potential breakout
- Key targets are $220 and $240 if daily close holds above resistance
Solana (SOL) just delivered a textbook bullish move, rebounding sharply from its 50-day Exponential Moving Average (EMA). After testing the EMA as support, the price surged right back to challenge the key resistance level at $205. This area had previously acted as a ceiling, but now SOL is showing real signs of strength.
This bounce surprised many who may have turned bearish at support, missing the opportunity for a solid move up. The reaction confirms that bulls are still in control, and more upside could be on the table—if one crucial condition is met.
Breakout Trade Triggers Above $205
The $205 level is now the make-or-break point for Solana. If the price manages to close above this resistance on the daily chart, it would confirm a breakout, setting up the next targets at $220 and $240. These levels could be hit quickly, driven by momentum buyers and breakout traders stepping in.
However, traders should be cautious. If SOL gets rejected at $205 and fails to close above it, the bullish setup is temporarily invalidated. In that case, a short-term pullback could occur, with the 20-day EMA around $185 acting as the next possible support zone—and a more favorable entry point for dip buyers.
What’s Next for Solana?
Solana’s price action is heating up again, and all eyes are now on how it reacts around the $205 resistance. Whether it breaks through or pulls back, opportunities are emerging for both breakout and support traders.
With increasing interest and volume returning to the altcoin market , SOL could be gearing up for a strong finish this quarter—if it can maintain its current momentum.
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