🚀 Solana ( [$SOL](/trade/SOL_USDT?contentId=29330540068634) ) reaches a crucial level of 200 dollars

The $SOL is trading at 200.04 dollars, following a recovery from the recent drop to 194 dollars. Optimistic investors are challenging the resistance at 200 dollars, a significant psychological milestone that could trigger a new bullish momentum.

Important reference points

The maintenance of the price above 198 dollars strengthens the outlook for the continuation of the upward movement. This level serves as immediate support for buyers.

The $200 barrier represents a crucial psychological resistance. A convincing break of this level could pave the way for new gains.

The range between 204 and 205 dollars emerges as the next obstacle. Overcoming this zone would confirm the strength of the ongoing bullish movement.

If the market maintains its momentum, the next potential target is between 217 and 218 dollars, provided that the previous levels are successfully surpassed.

Possible scenarios

If the $SOL can hold above 198 dollars and decisively break the barrier of 200 dollars, there is the possibility of a rapid advance towards 205 dollars or beyond, in the short term.

However, it is important to note that a rejection at the 200 dollars resistance may result in temporary selling pressure, potentially leading to a short-term consolidation or retracement.

📈 Explore the trading opportunities of $SOL on Gate and closely follow this exciting market movement!

Notice: This content reflects third-party opinions and does not constitute financial advice. It may contain sponsored elements.