Solana Price Prediction: Can SOL Hit $250 in the Next Wave?

Solana's price rises with Robinhood's SOL staking in Europe

• #Solana initiates a new upward movement surpassing the $160 resistance level.

• The SOL price has surged by almost 3.20%, with potential for further growth if it breaks through the $175 resistance barrier.

• In February, #Solana attempted to breach the $200 mark but failed to sustain the rally due to profit booking by investors.

• After a corrective phase, the chart now shows a confirmed Cup and Handle pattern.

• On May 15th, $SOL formed a Maraubozu candle, followed by a long wick candle the next day.

• However, today, $SOL is forming another Maraubozu candle, indicating bullish sentiment.

• Solana's price is currently on the rise, finding support from an upward trendline.

• According to Coingabbar analysis, The bullish trend suggests a potential break above $170, approaching $190. Further momentum could drive it to $200 or even $250.

• Conversely, in a downturn, SOL may retreat to $155 support, with a further decline to $150 amid bearish dominance.

KEY LEVELS :

RESISTANCE LEVEL : $175-$185

SUPPORT LEVEL : $160-$150

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