SOLANA demonstrates monthly growth, approaching $ 200. However, Altcoin has not enough strength to overcome this key resistance
The forming “golden cross” can be a turning point for the price dynamics of Solana (SOL).
Solana shows growth potential
The MVRV coefficient is now 1.3. This suggests that the token is not bought. Historically, the overwhelming threshold is about 1.8. Thus, SOL preserves the growth potential before the start of possible correction. A healthy MVRV coefficient indicates that price growth is supported by fundamental factors, and not a speculative surge. This indicates the stability of recent successes of altcoin and reduces the likelihood of a sharp rollback.
Technical indicators emphasize a significant change in the impulse. A 50-day exponential sliding medium (EMA) is prepared to cross the 200-day EMA from the bottom up. This will put an end to the Cross of Death, which lasted more than two months. Also, such an intersection will confirm the golden cross – a bull signal, which is often followed by prolonged ascending trends.
The previous gold cross SOL lasted almost 17 months and led to a significant increase in price. Although the new bull phase can be shorter, it is still able to create a strong basis for growth in the short and medium term, attracting increased interests of investors.
SOL price is faced with resistance
Now SOLANA is faced with a resistance of $ 178. The transformation of this resistance in support is the key to taking the barrier $ 201. Given the positive indicators of the pulse, growth is likely in the coming days.
Macrozzel for altcoin – an increase of 51%, up to $ 262 by the end of the second quarter. This will compensate for the losses of the beginning of 2025 and create conditions for testing the historical maximum above $ 295. For such a rally, bulls will need to be turned into support of $ 221.
On the other hand, if the market conditions worsen, Solana may not reach $ 200. This can lead to a fall to $ 161 or even $ 148, which will question the bull script and the current ascending trend.
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Source: Cryptocurrency
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