Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Solana Price Analysis as SOL Bounces From $131 Support – Can SOL Reach $200 in October?

Solana Price Analysis as SOL Bounces From $131 Support – Can SOL Reach $200 in October?

CryptoNews2024/10/06 15:30
By: Arslan Butt
REACH0.00%SOL+0.75%TON-1.73%
Last updated:
October 6, 2024 07:43 EDT

The Solana price is currently $143.48, with a 24-hour trading volume of $928.94 million. Although it has dipped by over 0.50% in the past 24 hours, it remains the 5th largest cryptocurrency, boasting a market cap of $67.23 billion.

With a circulating supply of around 470 million SOL coins, Solana’s recent rebound from its key support level of $133 suggests a potential bullish move ahead.

Solana Price Analysis: Key Support and Resistance Levels

Solana’s recent recovery stems from a strong support zone at $133, which aligns with an ascending trendline observed on the 4-hour chart.

This upward momentum has pushed SOL to test the immediate resistance at $144, aligning with the 38.2% Fibonacci retracement level.

🚀 #Solana shows a strong rebound from $133 support! 🔄 Breaking through the key resistance at $144 could set the stage for a move towards $150+ levels. Can SOL reach $200 this October? 📈💰 #Crypto #SOL #CryptoNews pic.twitter.com/HE6vWtG2C8

— Arslan Ali (@forex_arslan) October 6, 2024

If SOL can break above this crucial resistance, it could pave the way for gains toward the next resistance at $147.45 and, ultimately, the 61.8% Fibonacci level around $150.86.

In the event of a downside move, immediate support can be found at $139.89, followed by $136.62 and $133.04. A break below $133 would likely invalidate the recent bullish trend, leading to further declines.

However, the Relative Strength Index (RSI) is currently just below the 50 mark, suggesting that a break above this level could signal renewed bullish momentum.

Solana Price Analysis as SOL Bounces From $131 Support – Can SOL Reach $200 in October? image 1

Will Solana Reach $200 in October?

For Solana to target the $200 mark, it must first sustain a breakout above the 50-day Exponential Moving Average (EMA) at $144.06.

Doing so could attract additional buying interest, propelling SOL toward the upper resistance levels.

However, a combination of technical strength and broader market sentiment will be crucial in determining whether Solana can achieve this milestone.

With market sentiment currently neutral and SOL’s RSI hovering around 49, a decisive move above 50 could serve as a signal for bullish continuation.

Key Insights:

  • Immediate Resistance: $144
  • Next Resistance Levels: $147.45, $150.86
  • Immediate Support: $139.89

Technical Indicators:

  • RSI: 49, indicating neutral momentum.
  • 50 EMA: $144.06, aligning with immediate resistance.

Conclusion:

Solana needs to break through the 38.2% Fibonacci level of $144 and see the RSI move above 50 to confirm a continued uptrend.

If successful, this could drive SOL to target the $147.45 and $150.86 levels in the short term, potentially setting the stage for a broader rally toward $200 in October.

Flockerz: The New Meme Coin Contender

Meme coins are evolving, and Flockerz ($FLOCK) is leading the way with innovative staking features and community involvement.

Unlike traditional meme coins like Neiro, Flockerz introduces the unique “vote-to-earn” model, empowering holders to actively participate in decision-making through Flocktopia, a decentralized autonomous organization (DAO).

With over $460,000 already raised in its ongoing presale, Flockerz aims to redefine the meme coin space. The project rewards community engagement, offering a staking yield of 5,011% over a two-year period—one of the highest in the market.

Solana Price Analysis as SOL Bounces From $131 Support – Can SOL Reach $200 in October? image 2

This incentivizes active participation and aligns the community’s interests, creating a stronger foundation for growth.

Moreover, Flockerz has undergone a thorough audit by Coinsult, ensuring transparency and investor security. Following the presale, Flockerz plans to list on both centralized and decentralized exchanges (CEXs and DEXs).

🔔 Presale Update
Time Remaining: Less than a day
USDT Raised: $461,473 / $676,594
Current Price: 1 $FLOCK = $0.0057012

Join now. Follow Flockerz on X and Telegram .

Visit the Flockerz Presale Website For More Information

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

New spot margin trading pair — HOLO/USDT!
Bitget Announcement2025/09/12 07:46
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.

Bitget-RWA2025/09/12 06:14
OPEN has dropped by 189.51% within 24 hours during a significant market pullback

- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.

Bitget-RWA2025/09/12 06:14
New spot margin trading pair — LINEA/USDT!
Bitget Announcement2025/09/11 10:04

Trending news

More
1
New spot margin trading pair — HOLO/USDT!
2
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn

Crypto prices

More
Bitcoin
Bitcoin
BTC
$115,473.84
-0.24%
Ethereum
Ethereum
ETH
$4,619.83
-1.23%
XRP
XRP
XRP
$3.04
-3.12%
Tether USDt
Tether USDt
USDT
$1
-0.02%
Solana
Solana
SOL
$244.3
+2.05%
BNB
BNB
BNB
$929.24
-0.63%
USDC
USDC
USDC
$0.9997
-0.03%
Dogecoin
Dogecoin
DOGE
$0.2826
-4.25%
TRON
TRON
TRX
$0.3484
-0.86%
Cardano
Cardano
ADA
$0.8896
-4.81%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter