Solana’s going gangbusters. The slice of the pie has genteelly fluctuated around 200. But can the rocket hope to gain escape velocity? What is at stake is just that resistance which refuses to sit still and welcomes Solana to a walk rather than a jump toward that finish line. The question remains whether Solana will be able to break out of this resistance and soar or will be dragged but back to Earth?
However, the approaching Golden Cross could signal a turning point for Solana’s price action.
Solana Shows Potential
Solana’s MVRV ratio operating in the green zone, with a present-day comfortable value of 1.3, denies braking. According to historical trends, SOL might well count on much more fuel to run before the possibility of a pullback. The expected overbought danger zone hangs very far at 1.8; hence an extra upleg looks attractive for Solana without immediate thoughts of reversal.
To get upwards on Solana, this critical metric says, “Now, there’s another one.” A high MVRV ratio signals true value behind the price, indicating that the rally can be maintained. So, no talk of a sudden crash; Solana’s gains seem legit.
Solana MVRV Ratio. Source: Glassnode
An explosive breakout potential is supposed to be realized by Solana! After languishing in a bearish “death cross” for more than two months, the 50-day EMA is making a great comeback, rushing towards the 200-day EMA. This incoming “Golden Cross” is not really just a chart pattern but is rather a launchpad that has historically seen explosive upward trends. So, will Solana set sail for upward movement?
Solana’s preceding “Golden Cross” gave way to something like a 17-month rocket run. This time perhaps a little quicker, the climb, in any case, shall be an explosive lever. There should be a surge of investor attention driving gains in the nearer term and then eventually later.
Solana EMAs.. Source: TradingView
SOL Price Faces Resistance
Bowing towards $172, Solana is marred by a strong resistance at $178. If there is a sudden break so that $178 can act as strong support, then Solana can shoot past $200-201 in no time. Momentum has been building like a spring being compressed; a rally for Solana can break out any day now.
Solana signs up for a late Q2 blockbuster, aiming for a huge 51 percent advance to $262! That climb is set to remove early ’25 doldrums and set the scene for a tussle with the all-time highs beyond $295. The linchpin? Cementing $221 as rock-solid support. Hold that line, and SOL could be unstoppable.
Solana Price Analysis.. Source: TradingView
A Solana can easily be halted from going past the $200 mark in the aftermath of a market downturn. Hence, be on the lookout for an impending drop down to $161, and if that is not enough, even to $148. Such a precipitous downfall should shatter the very current bullish outlook and place the whole uptrend into jeopardy.
Thanks for reading Golden Cross Looms as Solana Nears $200—Is a 50% Rally Incoming?
