Altcoins News
By Steven Anderson
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Technical Structure Shows Persistent Downside Pressure. According to the latest hourly chart data from Kraken, a new bearish trend line has formed with…
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Solana’s Key Resistance and Support Levels
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Possible Scenarios for the Coming Sessions. If Solana fails to clear $160, the market could see renewed downward momentum.
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Broader Market Context. The broader crypto market has also seen muted sentiment, with Bitcoin and Ethereum showing similar…
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Outlook: Solana’s Recovery Hinges on $165 Breakout. For now, the $165 level remains the key barrier that will determine Solana’s next major move.
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Solana (SOL) is struggling to regain momentum after a sharp decline below key support levels.
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After dropping from a weekly high of $188, Solana tested the $145 zone, where buyers stepped in to prevent deeper losses.
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Currently, SOL trades below both $162 and the 100-hourly simple moving average, suggesting that the market remains in a short-term downtrend.
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According to the latest hourly chart data from Kraken, a new bearish trend line has formed with resistance near $159, reinforcing the immediate overhead barriers.
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This confluence of technical resistance highlights the challenge for bulls attempting to reverse the decline.
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If buyers manage to close above $165, analysts expect momentum to build toward the next resistance levels at $172 and $180. The 61.
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Solana’s short-term outlook depends on whether bulls can reclaim $165. A sustained move above that level could set the stage for a trend reversal, while continued rejection might…
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If Solana fails to clear $160, the market could see renewed downward momentum. Initial support sits around $150, which previously acted as a psychological level for buyers.
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Should selling intensify further, $138 emerges as the next line of defense. A close below $138 could extend losses toward $130, marking a deeper retracement phase and confirming…
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On the upside, if SOL manages to break past $165, the bullish scenario could strengthen, pushing prices toward $172 initially, with $180 as a potential target.
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