Solana Price Watch: Key Resistance Levels Ahead of Potential Breakout

Solana is poised for a potential breakout after months of sideways movement. The cryptocurrency’s price action currently awaits confirmation of a fifth wave, a crucial stage in Elliott Wave Theory that often predicts significant growth. 30-day Binance timeframe analysis suggests Solana’s current trajectory lies within a sideways correction, influenced by the impending interest rate decision today. This period of consolidation is marked by key support and resistance levels between $189.07 and $227.64, indicating market uncertainty as traders await a clear catalyst.