Solana Holds Strong ⚡ – Key Levels to Watch Before the Next Surge

Solana rose over $240 again. SOL price is consolidating gains below $240 and may rise again if it remains over $230.
SOL price rose over $240 and $242 vs the US Dollar.
The price is below $240 and the 100-hourly SMA.
On the hourly SOL/USD chart, a negative trend line with resistance at $238 is formed.
If it falls below $230, losses may continue.
Price of Solana consolidates gains
After settling at $220, Solana price rose, surpassing Bitcoin and Ethereum. SOL entered a short-term bullish zone over $235.
The price broke $242 barrier. Price broke $245 thanks to bulls. Price just begun a negative decline after hitting $250. A drop below the 23.6% Fib retracement line of the ascending wave from $200 swing low to $250 high occurred.
Bulls were active over $230. Solana is below $240 and the 100-hour SMA. The price faces upward resistance at $238. In addition, the hourly SOL/USD chart shows a negative trend line with resistance around $238.
Near $242 is the next significant resistance. The primary obstacle may be $250. Close over $250 resistance might lay the stage for another sustained rise. The next hurdle is $262. More advances might push the price toward $280.
More SOL downside?
SOL might tumble again if it fails to break $238 barrier. Near $232 is first downside support. The first key support is $229, the 50% Fib retracement level of the ascending wave from $200 swing low to $250 high.
Breach below $229 might drive price below $220 support. If the price closes below $220, it may fall to $212.
Tech Indicators
Hourly MACD - SOL/USD MACD is falling in the positive zone.
Hourly RSI – RSI for SOL/USD is below 50.
Major Support Levels: $229, $220.
Two major resistance levels: $238 and $250.
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