Solana Tests $203 Range With Resistance at $205 — Will Momentum Hold Above Support at $197?
- Solana trades at $203.22, declining 0.6% in 24 hours while remaining in a narrow trading range.
- Resistance holds at $205.72, repeatedly rejecting upside attempts, while support remains steady at $197.08.
- Against Bitcoin, Solana posts gains, trading at 0.001854 BTC with a 1.3% increase.
Solana (SOL) is trading near $203.22 after a 0.6% daily decline, according to the latest market data. The token remains in a tight range as it consolidates between identified support and resistance levels. With buyers and sellers competing for control, the short-term structure shows clear boundaries that define near-term momentum. Current chart patterns emphasize how price movement has respected a rising trendline while also testing a strong horizontal resistance level.
Resistance Levels Shape Short-Term Action
At $205.72, the resistance level continues to restrict further upside. The price has tested this area but faced rejection. Notably, this same region capped gains during recent attempts, creating a ceiling for bullish momentum. Every move toward the threshold has been followed by retracement, which underscores its significance as a near-term barrier.
The structure indicates that any immediate progress depends on activity near this resistance. Until surpassed, market action may remain within the narrow band observed over the past sessions.
Support Remains Steady Around $197.08
Although the resistance caps the uptrend, the $197.08 support is a significant one. The price has repeatedly bounced back from here, strengthening it in the short-term. This has set an obvious trading range with both sides firmly defending positions.
Additionally, the bigger uptrend line on the chart still maintains support for the price higher. Every decline has stayed supported above the rising framework, continuing with the general upward trend since previous in the year.
Current Price Movement in Context
The 24-hour trading range has been limited by $197.08 and $205.72, accentuating the squeeze in volatility. In the range, Solana experienced a slight day-to-day variation, falling 0.6% while still residing above support.
Compared to Bitcoin, Solana is 0.001854 BTC, a rise of 1.3% against that pair. It’s a classic example of how relative strength may differ depending upon the market pair being considered.
Market participants continue to track these boundaries closely. Resistance at $205.72 and support at $197.08 remain the defining levels in the current setup. Until either side breaks, the chart indicates Solana’s price will continue to trade within this range.
