SOL: To $225 or Bust? 🚀

Ah, Solana. A digital bauble, currently experiencing a fleeting spasm of upward mobility. It has, rather predictably, begun to inch its way above the $188 mark – a paltry sum, really, though I suppose one must take one’s amusements where one finds them. The current consolidation above $200 is less a sign of bullish strength and more a temporary pause for breath before the inevitable oscillations. One suspects $212 is merely a mirage, a particularly shimmering lure for the credulous.

The SOL price, with a certain vulgar haste, has breached the $192 and $202 plateaus, against the staid backdrop of the US Dollar.
It now deigns to trade above $200, rubbing shoulders with the pedestrian 100-hourly simple moving average. How terribly bourgeois.
A ‘rising channel’ is forming, they say. As if charting lines on a graph can predict the whims of the market! It has support at the quite specific $205, according to Kraken – a source no doubt as reliable as a fortune cookie.
Should it overcome the $212 resistance (a highly conditional ‘should’, mind you), further gains may occur. A thrilling prospect, naturally. 🙄

A Glimpse of Potential, or Just Wishful Thinking?

Solana commenced a negligible, yet noticeable, ascent following its rather uninspired touch on the $188 base – unlike the cumbersome Bitcoin and somewhat more responsive Ethereum, one notes. It climbed, with a distinct lack of fanfare, above $195, entering what they call a ‘positive zone’. A zone of positivity! How utterly delightful.

It even, audaciously, conquered the $202 barrier. The bulls, those tireless peddlers of hope, managed to shove the price above $208. A peak of $213 was briefly attained before the inevitable settling back. The price is now indulging in a period of consolidation, flirting with the 23.6% Fib retracement, a number as meaningful as a magician’s incantation.

And so, it resides above $200 and that dreary moving average. The aforementioned, and frankly dubious, rising channel offers support at $205. The hourly chart, as if revealing some profound truth.

Above, a slight resistance awaits near $212, a mere speed bump. Then, $215, and beyond that, the truly ambitious $220. Success in breaching this level? Why, it might herald “another steady increase”! And after that, the dizzying heights of $225 and – heavens forbid – even $232. One shudders to think of it.

Should the Bubble Burst?

But what if, and it’s a distinct possibility, if Solana fails to scale the $212 summit? A decline, naturally. Initial support, a rather flimsy concept, lingers near $205, followed by the slightly more robust $202. Should it tumble below $202, prepare for a descent toward $195 and the 50% Fib… oh, the numbers! 😵

Should even that precarious foothold fail, a further dip to $188 looms. The market, it seems, enjoys a good plummet.

Technical…Indicators. One throws in these terms for effect.

Hourly MACD – Apparently, gaining pace in the ‘bullish zone’. For how long, one wonders.

Hourly RSI – Hovers above 50. A state of bland equilibrium.

Support – $205, $195. Resistance – $212, $215. Levels, really, aren’t they? Just numbers pretending to matter.

2025-08-25 08:12

A Glimpse of Potential, or Just Wishful Thinking?

Should the Bubble Burst?

Read More