Solana's price has been rising recently, reaching a crucial resistance level at $148.16. This resistance is critical because if Solana breaks through, its value could surge toward $210. The current trading price is $148.06, showing a 2% increase over the past week.
The Relative Strength Index (RSI) supports this positive outlook. Currently at 53.93, the RSI indicates a strengthening trend among buyers without suggesting an imminent correction. Values above 70 would indicate overbought conditions, while values below 30 suggest overselling.
Additionally, the Balance of Power (BoP), another key indicator, is at 0.44, further reinforcing the bullish trend. This measure highlights the dominance of buyers compared to sellers in the market, implying upward pressure on Solana's price.
A successful retest and breakthrough of the current resistance could trigger an upward rally toward $209.90, a level last reached in March. Despite optimism, a failure to break the resistance could result in Solana's price dropping to $110.
