Solana

Bitcoin

Resistance

Rise

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-price-trends-and-resistance-challenges/" data-wpel-link="internal">Solana Price Trends and Resistance Challenges</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/neon-evm-takes-a-major-step-in-solana-ecosystem/" data-wpel-link="internal">Solana</a></strong> has recently shown a trend of recovery starting from the $120 region. A close above the $142 resistance could further accelerate its price. However, there was a breakout above a significant downtrend line on the <a href="https://en.coin-turk.com/solana-analyzing-the-price-movements-and-future-prospects/" data-wpel-link="internal">SOL</a>/USD 4-hour chart at the $132 resistance. If the pair continues to stay below $142 and $150, another downtrend could begin.</p> 
<h2 style="text-align: justify" id="solana-price-recovers">Solana Price Recovers</h2> 
<p style="text-align: justify">Solana’s price extended its losses below the $150 and $140 support levels. However, recently, along with other cryptocurrencies like <a href="https://coin-turk.com/evergrandein-iflasi-kripto-para-piyasasini-nasil-etkiledi-bitcoin-ve-altcoinlerde-son-durum" data-wpel-link="internal">Bitcoin</a> and <a href="https://coin-turk.com/dev-isvicre-bankasi-hangi-kripto-para-ile-ilgili-staking-hizmeti-verecek" data-wpel-link="internal">Ethereum</a>, it started an upward correction and saw a strong increase above the $125 and $130 levels.</p> 
<p style="text-align: justify">However, there was a breakout above a significant downtrend line on the SOL/USD 4-hour chart, and the price failed to close above the $140 region.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-347359 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/solana.png" alt="" width="1854" height="802"></p> 
<p style="text-align: justify">Currently, the cryptocurrency Solana is at the $137 level. The immediate resistance is near the $142 level. The next major resistance is at the $150 level.</p> 
<h2 style="text-align: justify" id="if-142-resistance-is-not-surpassed-sol-price-may-decline">If $142 Resistance Is Not Surpassed, SOL Price May Decline</h2> 
<p style="text-align: justify">SOL has been noticeably searching for direction in recent days. However, failing to surpass the critical $142 resistance could increase concerns that SOL coin might enter another downtrend. At this point, the first downward support appears around $132.</p> 
<p style="text-align: justify">If it falls below the significant support level of $128, the price could show a tendency to decline towards the $120 levels. Moreover, if a close below $120 occurs, the cryptocurrency SOL could likely retreat towards the $105 support level in the near term.</p> 
<h2 style="text-align: justify" id="technical-indicators-signal-a-rise">Technical Indicators Signal a Rise</h2> 
<p style="text-align: justify">Looking at the technical indicators, the 4-hour MACD for SOL/USD is gaining momentum in an upward trend. Similarly, the 4-hour RSI (Relative Strength Index) is also above the 50 level, indicating that SOL is holding strong.</p> 
<p style="text-align: justify">However, the resistance levels that cryptocurrency SOL could face should also be considered. If a close above $142 occurs, the $150 and $175 levels could become significant and play a critical role in SOL’s upward movement within the top five of the crypto world.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/solana-price-trends-and-resistance-challenges/" data-wpel-link="internal">Solana Price Trends and Resistance Challenges</a></h5>

Solana Price Trends and Resistance Challenges

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