After rising above $97,000, Bitcoin price has once again fallen below the range that has once again interrupted an ongoing bullish trend. As a result, selling pressure on Solana price prevented the price from securing the highs above $190. Meanwhile, with less buying pressure, the bulls have managed to defend support, indicating a potential upward trend. Now the question arises: will the SOL price reach $200 before the end of the month?
Solana has made huge strides recently, both technically and fundamentally, which has attracted enormous attention. Whether it is a potential spot for ETF approval or excels in AI integration, which aims to power more than 70% of AI agents, SOL price is expected to attract bullish sentiments. This is expected to inject massive liquidity into billions of dollars into the markets, reviving the SOL price rally to new highs. Here’s when.
The weekly chart of the SOL price rally indicates excessive price pressure after the last decline from levels above $215. Meanwhile, the token is secretly consolidating, which could push the price to the edge of consolidation. This could further revive the chances of a rise above $200.
The latest surge has pushed the price past the rising trendline, renewing the chances of regaining the USD 200 resistance. Interestingly, the +Di & -Di levels showed a divergence, which could further revive hopes of a bullish crossover, which could indicate a major change in the trend. On the other hand, the MACD is about to validate a bullish crossover and could likely enter the positive range, signaling the start of a new bullish trend.
Once Solana price secures the resistance zone, a rise to $225 could be validated, but only with a huge influx of buying volumes. Until then, the price may continue its horizontal consolidation below $250. However, market sentiment is expected to rise later this year, which could confirm a strong upward trend.
