Cardano

Solana

altFINS

Resistance

Shiba Inu

<p>Solana’s native SOL token appears to be gaining near-term upside momentum after a turbulent 2023. But key technical resistance now stands in the way of confirming a sustainable trend reversal, according to analysts.</p> 
<h2 class="wp-block-heading" id="strong-sol-breaks-downtrend-resistance-strong"><strong>SOL Breaks Downtrend Resistance</strong></h2> 
<p>Trader <a href="https://twitter.com/MtukufuMtukutu/status/1752389437126819891" target="_blank" rel="noreferrer noopener nofollow">Teshkid </a>points to SOL attempting to clear a key breakdown level at $106, which would put focus on further targets:</p> 
<p><em><strong>“Solana is trying to break through resistance at $106.07. A break above that area flipping that into support watch for a rally to $110 and $115 as the next targets.”</strong></em> Teshkid also mentioned that in case of a rejection, SOL could hit $98.41.</p> 
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<p>This aligns with the analysis showing SOL in the early stages of breaking its prior declining channel. Reclaiming $106 resistance opens the door for a continued move higher.</p>  
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<h2 class="wp-block-heading" id="strong-broader-resistance-still-an-obstacle-strong"><strong>Broader Resistance Still an Obstacle</strong></h2> 
<p>However, per analysis from altFINS, the higher the macro $100 level, the higher the pivotal threshold for bulls to conquer. Achieving back-to-back daily closes above $100 would confirm upside continuation towards the $125 area.</p> 
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<p><em>Source: </em><strong><a class="thirstylink" rel="nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p> 
<p><em><strong>“Bullish breakout from a Channel Down pattern. Traders could wait for a confirmation – if price breaks above $100 resistance, with +25% upside potential back to $125.”</strong></em></p> 
<p>So in essence, while Solana shows encouraging signs of early technical improvements, conviction around a sustainable low still remains lacking. Only a decisive move above the psychologically key $100 resistance can begin repairing the damaged long-term market structure.</p> 
<p>However, as Teshkid mentioned, SOL faced rejection at the $106 level and has dropped below $100. SOL is down by 3.7% and is trading at $99.45.</p> 
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<p>The post <a href="https://captainaltcoin.com/solana-fails-to-break-key-resistance-at-106-analyst-says-sol-could-drop-to-this-level/">Solana Fails To Break Key Resistance At $106, Analyst Says SOL Could Drop To This Level</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Solana Fails To Break Key Resistance At $106, Analyst Says SOL Could Drop To This Level

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