Solana Nears $229 After Pullback from $237, Eyes $240 Breakout 🚀

Solana (SOL) is currently trading around $229, down roughly 3.4% from its recent high of $237. Despite this slight pullback, bulls remain active, having defended the $209 support zone and maintaining a solid bullish structure.

SOL has surged from $190 to $237, marking a 24.7% rally over this range, demonstrating strong recovery momentum in recent weeks.

The token remains above all major moving averages:

20-day EMA: $220.78

50-day EMA: $211.97

100-day EMA: $197.66

200-day EMA: $184

This alignment provides solid technical support and underpins the ongoing uptrend.

Currently, SOL is testing the $219–$220 resistance region, corresponding to the 38.2% Fibonacci retracement level. A decisive breakout here could pave the way toward the $240–$248 zone, aligning with the 23.6% Fib retracement.

If SOL fails to break this resistance, a pullback toward $211–$209 is possible, supported by the 50-day EMA, which remains a key level for bulls to defend.

Momentum indicators are mildly bullish:

RSI: 55, showing room for further upside

Stochastic Oscillator & MACD: Preparing potential bullish crosses

📊 Outlook:

Break above $220 → Bulls target $240–$250

Rejection at resistance → Possible retest of $211–$209 support

Key Takeaway: SOL has gained 24.7% from $190 to $237, and despite the recent 3.4% pullback, bulls remain focused on the $220–$240 range for the next breakout.

$SOL
#Octobermarketprediction