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Solana (SOLUSD) Price Eyes $200 High Mark

Johnathon Fox
11/08/2024 | UPDATED ON: 11/08/2024

Solana (SOLUSD) Price Forecast: November 8

The SOLUSD market price eyes the $200 high mark. The pair has witnessed a notable price surge over the past 24 hours following a market rebound in the wake of the U.S. elections. Solana’s price has bounced back as it jumped to an intraday high of $188.71, its highest level since July 29th. If the coin price could sustain above the current pattern supply trend line, the price may rally to the overhead resistance mark at $200, thus a clear buy signal for coin investors.

Key Levels:
Resistance Levels: $187, $188, $189
Support Levels: $140, $139, $138

SOL (USD) Long-term Trend: Bullish (Daily Chart)

The SOLUSD price is eyeing the $200 high mark as it goes vertical, welcoming Donald Trump’s win with a bullish long-term perspective. The price currently trades above the EMA-50, suggesting bullish momentum.
Solana (SOLUSD) Price Eyes $200 High Mark
The high order flow from the bulls at the $169.39 value in the past session has enabled the coin price to remain stable above the trend levels and eyes the $200 rally in its recent high.

Today, the SOLUSD price is eyeing a $200 rally as the crypto goes vertical and jumps to an intraday high of $188.71 above the EMA-50 as the daily session opens.

Thus, a breakout above the $188.71 current supply value would enable buyers to regain control and potentially drive the coin price toward the upper resistance area as the crypto price eyes the $200 high mark.

Hence, the current correction phase may likely continue as the momentum indicator highlights an uptrend direction: we can now expect the Solana price to reach a significant level of the $200 supply trend line in the coming days as it eyes a $200 rally while the bulls continue with their bullish correction and remain dominant in its long-term perspective.

SOL (USD) Medium-term Trend: Bullish (4H Chart)

Solana’s price is eyeing the $200 high mark as it shows bullish momentum, positive indicators, and increased interest from crypto investors in its medium-term outlook. The price bar is moving towards overhead resistance above the EMA-50, suggesting a robust uptrend.
Solana (SOLUSD) Price Eyes $200 High Mark
The bulls were able to push the SOLUSD price to the $184.97 resistance value in the last session and have enhanced the price to eye the crucial supply levels and stay above the supply levels in its upward performance.

Today, the SOLUSD pair eyes the $200 high mark as it shows bullish momentum at a $188.71 resistance level above the EMA-50 as the 4-hourly session resumes, signaling growing interest among the coin investors with intraday gains.

The price increase aligns with recent election news reportedly linked to market optimism after Donald Trump’s electoral victory.

Hence, a strong push above the $188.71 current supply level will offer healthy resistance to the crypto price, eyeing the $200 upper resistance level.

Meanwhile, further upsides are likely as the price signal points upwards, suggesting the SOLUSD price might continue the bullish correction rally and may surpass the $188.71 current high mark as it eyes the $200 supply value soon in the medium-term time frame.

Buy Solana on Longhornfx

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

View all posts by Johnathon Fox →
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