Solana Breakout Trade Eyes $220 After Key Rebound
Solana rallies to $205 after bouncing from 50-day EMA. A breakout could push price to $220 or $240 soon.
- 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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