Solana rallies 7%, faces key resistance test at $219
Solana (SOL) has surged by 7% in the past 24 hours, backed by strong buying momentum after bulls successfully defended the $209 support zone. The Layer-1 token has also cleared its key short-term averages, trading above the 20-day EMA at $216.7, while maintaining strength over the 50-day EMA at $209, the 100-day EMA at $195.5, and the 200-day EMA at $182.76. This alignment of moving averages reflects a supportive bullish structure.
Currently, SOL is challenging the 38.2% Fibonacci Retracement level at $219, a crucial resistance area. A decis