Satoshi

Solana

Show

Resistance

RebelSatoshi

<p>CryptoBusy, a noted analysis platform in the cryptocurrency sector,<a href="https://x.com/CryptoBusy/status/1788410750308102286" target="_blank" rel="noopener noreferrer nofollow"> updated</a> followers on the status of Solana (SOL), noting a resistance rejection at $160. Highlighting the risks associated with swing trades below this threshold, the analysts have now set an alert for a potential breakout above $160, anticipating a substantial market move. Traders are advised to watch this key price level closely, as it may dictate Solana’s short-term market trajectory.</p>
<p>Through SOL’s chart analysis, CryptoBusy pinpointed this crucial resistance level at $160. Besides, Solana has been experiencing a downtrend, marked by two descending trendlines that form a channel. This channel dictates the current price boundaries, indicating repeated failures to break higher.</p>
<h2 class="wp-block-heading" id="strong-decoding-the-downtrend-strong"><strong>Decoding the Downtrend</strong></h2>
<p>The primary trendline, dashed and descending, connects peak points and suggests consistent resistance. Below this, a secondary trendline defines the lower bounds of <a href="https://captainaltcoin.com/top-crypto-analyst-predicts-solanas-sol-to-break-aths-this-year-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Solana’s price movement</a>, hinting at a robust channel-like formation. These trendlines serve as key indicators for traders, signaling potential selling points and caution zones.</p>
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="498" src="https://captainaltcoin.com/wp-content/uploads/2024/05/image-255-1024x498.png" alt="" class="wp-image-488725" style="width: 100%;height:auto" srcset="https://captainaltcoin.com/wp-content/uploads/2024/05/image-255-1024x498.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-255-300x146.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-255-767x373.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-255-1536x747.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-255-2048x995.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-255-309x150.png 309w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-255-100x49.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-255-720x350.png 720w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-255-788x382.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-255.png 679w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Solana’s chart features a notable consolidation zone marked by a green rectangle, which signifies a phase of sideways movement. This period of indecision between buyers and sellers typically follows a sharp price decline. Breakouts from this consolidation phase are critical as they could determine the direction of Solana’s next price move. CryptoBusy has set an alert for a potential breakout at the $160 level, which could indicate a <a href="https://captainaltcoin.com/?s=bullish+reversal&amp;post_type=post" target="_blank" rel="noopener noreferrer nofollow">bullish reversal</a> <a href="https://captainaltcoin.com/?s=bullish+reversal&amp;post_type=post" target="_blank" rel="noopener noreferrer nofollow">pattern</a>. This neckline, if breached with substantial volume, might confirm a swing to the upside.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   New Meme Coin to Watch Aiming to be Next $BONK, $WIF or $MEW
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p><strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">Milei Moneda</a></strong> is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president&nbsp;known for his libertarian and pro-Bitcoin stance. You have an opportunity with the <strong><a href="https://mileimoneda.io/?utm_source=marketing&amp;utm_medium=inarticle&amp;utm_campaign=cap&amp;utm_id=s1" target="_blank" rel="noopener noreferrer nofollow">ongoing low presale price</a></strong> to get in early!</p>
    <p><em>Sponsored</em></p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<h2 class="wp-block-heading" id="strong-projections-and-market-implications-strong"><strong>Projections and Market Implications</strong></h2>
<p>Should Solana’s price surpass the $160 resistance with notable volume, it might pave the way towards a projected target of approximately $208. This potential 27.44% increase hinges on the assumption of a bullish reversal pattern from the neckline. Conversely, failure to overcome this resistance could lead to a continuation of the downtrend, underscoring the importance of this juncture for traders. Monitoring volume and price action near the $160 mark remains crucial for those looking to capitalize on this volatile setup.</p>
<p>CryptoBusy’s analysis sheds light on the technical aspects of Solana’s current market behavior and sets the stage for traders to watch for pivotal movements. The $160 level emerges as a critical point that could dictate future trends, providing a clear signal for potential entry or exit strategies..</p>
<p><em><strong>Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.<br>Get all our future calls by joining our&nbsp;<a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram community.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/REBEL-SATOSHI-RECQ-MEME-COIN-qndahijqjwle5mml7gg8my30uqig0eo11vxmtat25a.png" width="500" alt="Check $RECQ Meme Coin" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-recq-meme-coin-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check $RECQ Meme Coin</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy RECQ Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Serves as the base currency for all transactions within the Rebel Satoshi platform <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>ICO stage, offering tokens at a discounted price <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/experts-highlight-this-solana-resistance-level-as-key-to-sol-next-major-price-swing-heres-their-outlook/" rel="noopener noreferrer nofollow">Experts Highlight This Solana Resistance Level as Key to SOL Next Major Price Swing: Here’s Their Outlook</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Experts Highlight This Solana Resistance Level as Key to SOL Next Major Price Swing: Here’s Their Outlook

Table of Contents

CaptainAltcoin

Other articles published on May 9, 2024

Bitcoin (BTC) Whales’ Declining Interest: A Potential Indicator of a Drop to $50,000?

10 Cryptocurrencies that Could be the Next Bitcoin

From Benchwarmers to Power Players How DEKUBE’s Massive Network of Idle GPUs is Fueling AI Innova...

Bitcoin price buys time at $61K as US jobless claims hit 9-month highs

VanEck’s MarketVector Launches Meme Coin Index, Led by Dogecoin and Shiba Inu

SEC Chair Gary Gensler Says Investors Lack Needed Crypto Disclosures Following Multiple Wells Not...

Join our free newsletter for daily crypto updates!