Solana Eyes $200 as Golden Cross Nears Amid Cooling Momentum

Solana (SOL) has been on a powerful uptrend since early July, surging from below $140 to nearly $210 in just weeks. The price now trades around $184, consolidating above $175 and approaching the key psychological $200 level.

A golden cross — when the 50-day moving average crosses above the 200-day moving average — is forming and is widely considered a bullish signal for long-term momentum. However, in this case, the indicator may have little impact. The rally has already played out, and the golden cross is emerging as a lagging confirmation rather than a fresh catalyst for upside.

Traders should note that volume is tapering off, and the Relative Strength Index (RSI) has cooled from overbought conditions, hinting at waning momentum. The next critical support zone lies between $162 and $164, where key moving averages converge. A failure to hold $175 or a break below the ascending trendline could trigger a deeper correction.

Despite short-term caution, Solana remains structurally bullish, with investor focus on whether it can reclaim $200 and sustain higher levels. The approaching golden cross may reinforce long-term confidence, but short-term traders should watch for pullbacks and consolidation before the next breakout attempt.

This technical setup highlights how Solana’s market dynamics continue to attract attention, especially as the broader crypto sector watches key resistance and support levels for the next major move.