Solana has recently experienced a rebound, but the current price is facing a key resistance. Failure to break through this price level may lead to significant selling pressure.
The global market has shown overall growth, but Solana is showing signs of weak bullishness. Although the price has established support above $122, the lack of strong bullish performance may lead to uncontrolled risks.
The recent selling pressure has eased over the past three weeks and has re-established support above the price. The daily chart shows a new uptrend.
However, the price has encountered strong resistance around $146, and the market situation appears unstable. Over the past few hours, this price level has become a strong resistance point for the bulls. If this resistance can be broken, it is expected to test last week's high and may challenge the downtrend line since March.
Successfully breaking the downtrend line may push the price further up to the high point in March and will determine future trends. However, a decline from the current level may cause the price to return to recent lows and may lead to a significant decline.
Key Levels to Watch for SOL
To confirm further upward momentum, Solana (SOL) must reclaim last month's high of $155. Once this key high is broken, it may trigger a slight rebound to the resistance level of $175, which is above the trend line. Beyond this resistance level, the key levels to watch include $189 and $204.5.
The level of $137 has been providing stable support over the past three days. If the price falls below this support level, it may retest $122 and potentially drop to $105.
Key Resistance Levels: $155, $175, $189
Key Support Levels: $137, $122, $105
Spot Price: $144.4
Trend: Bullish
Volatility: Low
This is not trading or investment advice. Please do your research before purchasing any cryptocurrency or investing in any services.
The article is time-delayed. If you do not understand the market and need real-time explanations, welcome to join us for technical skills and experience learning →→ VX: BNB1850
Join the group chat to discuss and learn professional knowledge about the currency circle, and avoid being a "leek" under the sickle.
We have the most professional communication community, and we publish market analysis, morning reviews, and recommendations of high-quality potential currencies daily.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
