Key Insights:
- Solana rebounded strongly from $210 support, consolidating near $216 while building steady higher lows.
- A breakout above $220 resistance could trigger the next bullish leg, targeting the $240–$250 range.
- Clearing $223 liquidity signals strong buyer momentum, with support zones near $215 and $200 remaining intact.
Solana (SOL) was trading at $223.76, with a 24-hour trading volume of more than $9.38 billion. The token has gained 4% in the last 24 hours and is up 6.63% over the past seven days. Price action shows SOL holding firm above the $210 support level, an area that has repeatedly attracted buyers in recent sessions.
The 4-hour chart indicates that SOL has been building a bullish structure with consistent higher lows. Each pullback has been met with buying pressure, signaling strong demand. This has allowed the market to defend $210 as a base while consolidating near the $216 range.
Resistance at $220 Comes Into Play
Analyst BitGuru noted,
“$SOL continues to display strong bullish structure, holding firm above $210 support while consolidating near $216.”
Morever, the current structure suggests that a decisive break above $220 resistance could fuel the next upward move.
So far, this level has acted as a cap for price, with previous attempts rejected. A clean breakout and sustained close above $220 would likely trigger further bullish momentum. If momentum fades, support around $210–$200 remains critical for preserving the trend.
Clearing Liquidity Zones Signals Strength
According to Cipher X,
“$SOL just cleared that $223 liquidity zone and structure still looks bullish.”
The move through this zone suggests that sell orders have been absorbed, allowing price to build a stronger base for the next leg higher.
With this breakout, the path appears more open toward $240–$250, provided the price holds above $223. This range represents the next resistance band where traders may look for profit-taking or consolidation. Immediate support is now seen around $215, while stronger demand sits near $200 if a deeper pullback occurs.
Market Outlook
The combination of a strong rebound from $210 and the clearance of the $223 liquidity zone points to continued buyer dominance. Trading volume remains elevated, supporting the bullish case. Short-term momentum suggests Solana may attempt to push toward $240–$250 if the market sustains current levels.
As long as SOL defends above $210 and maintains higher lows, buyers are likely to stay in control. Traders are closely watching whether $220 can be broken convincingly, which would confirm the next bullish phase.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |