Future

bullish

Solana

Resistance

Gains

<p><a href="https://cryptoticker.io/en/token/SOL"><i>Solana price</i></a><i> recently surged by 11% to reach $144. However, persistent liquidations in future markets raise concerns about sustaining this upward momentum towards $150 and $160. </i><a href="https://cryptoticker.io/en/can-sol-price-overcome-the-crash-and-reach-new-highs"><i>Will Solana surpass these resistance levels and reach back to a new high</i></a><i>?</i></p>
<figure class="image">
 <img style="aspect-ratio:1840/829;" src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/By_Trading_View_SOL_Price_Performance_24h_180320846e.png" alt="By TradingView - SOL Price Performance (24h)" width="1840" height="829">
 <figcaption>
  By TradingView - SOL Price Performance (24h)
 </figcaption>
</figure>
<h2 id="strong-1-solana-price-analysis-sol-price-surge-and-resistance-at-140-strong"><strong>1- Solana Price Analysis: SOL Price Surge and Resistance at $140</strong>&nbsp;</h2>
<p><a href="https://www.bitget.com/spot/SOLUSDT?vipCode=94qs">Solana price</a> experienced an 18% increase, testing resistance at $140 amid a broader market recovery after Monday's turmoil. Although sentiment has slightly improved, it may not be enough to sustain the price increase due to ongoing liquidations in the <a href="https://www.investopedia.com/terms/f/futuresmarket.asp">futures market</a>.</p>
<figure class="image">
 <img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/SOLUSD_2024_08_06_17_06_30e63f9aff.png" alt="By TradingView - SOLUSD_2024-08-06">
</figure>
<h3 id="strong-current-price-performance-strong"><strong>Current Price Performance</strong>&nbsp;</h3>
<p>On Tuesday, <a href="https://www.tradingview.com/symbols/SOLUSD/?aff_id=127958">Solana</a> traded at $137 on Binance during US business hours. After recovering from a drop to $110, the bulls overcame a minor hurdle at $130 but stalled at $140.</p>
<figure class="image">
 <img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/SOLUSD_2024_08_06_5_D_f252cb87d3.png" alt="By TradingView - SOLUSD_2024-08-06 (5D)">
</figure>
<h2 id="strong-2-solana-price-prediction-market-tensions-shape-solana-s-future-outlook-strong"><strong>2- Solana Price Prediction: Market Tensions Shape Solana's Future Outlook</strong>&nbsp;</h2>
<p>War tensions in West Asia keep markets, including crypto, on edge, casting doubt on the uptrend's sustainability. Therefore, exploring whether <a href="https://www.bitget.com/spot/SOLUSDT?vipCode=94qs">Solana price</a> will advance towards $200 or correct to $100 is crucial.</p>
<figure class="image">
 <img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/SOLUSD_2024_08_06_1_M_bedc760c7a.png" alt="By TradingView - SOLUSD_2024-08-06 (1M)">
</figure>
<h3 id="strong-threats-to-solana-s-price-recovery-strong"><strong>Threats to Solana's Price Recovery</strong>&nbsp;</h3>
<p><a href="https://cryptoticker.io/en/reasons-for-the-crypto-market-crash">The crash</a> in Solana's price began on July 29 when it stalled at $193 across various exchanges. The Federal Reserve's decision to leave interest rates unchanged, lower-than-expected jobs data, and <a href="https://cryptoticker.io/en/what-happens-to-crypto-market-during-recession">recession fears in the US</a> contributed to the sell-off.</p>
<h3 id="strong-relative-strength-index-rsi-and-potential-rally-strong"><strong>Relative Strength Index (RSI) and Potential Rally</strong>&nbsp;</h3>
<p>A recovery in the <a href="https://www.investopedia.com/terms/r/rsi.asp">RSI</a> from the oversold region encouraged traders to long SOL. If the RSI remains above the midline in the neutral region, Solana could gain traction above $140, potentially rallying past the $150 and $160 resistance zones.</p>
<h3 id="strong-key-breakout-and-exponential-moving-average-ema-strong"><strong>Key Breakout and Exponential Moving Average (EMA)</strong>&nbsp;</h3>
<p>Bulls will seek a breakout above the descending trend line. Overcoming this barrier is crucial for affirming a bullish trend and sustaining the rally. However, the 200-day EMA limits Solana's immediate upside, complicating the bulls' efforts. A correction below $140 could lead to further declines towards $130 and $120.</p>
<h3 id="strong-impact-of-25-million-solana-futures-liquidations-strong"><strong>Impact of $25 Million Solana Futures Liquidations</strong>&nbsp;</h3>
<p><a href="https://cryptoticker.io/en/cryptocurrency-market-liquidations">Liquidations have increased</a>, adding pressure on the sell-side and dampening the market. According to analysts' data, over $1.1 billion in long and short positions were wiped out on Monday alone. As Solana's price rose on Tuesday, an additional $25 million in positions were liquidated.</p>
<h3 id="strong-downward-pressure-from-rising-liquidations-strong"><strong>Downward Pressure from Rising Liquidations</strong>&nbsp;</h3>
<p>Rising futures liquidations exert <a href="https://cryptoticker.io/en/solana-price-crash-why-is-solana-price-crashing-hard">downward pressure on Solana price</a>. Forced selling from liquidated positions amplifies market sell-offs, often resulting in price declines and high volatility. Additionally, a 22% spike in open interest within 24 hours, while volume remains low, suggests indecision among investors and a lack of market conviction.</p>
<p><img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/By_Trading_View_SOL_Overall_Performance_2c1b1d50f5.png" alt="By TradingView - SOL Overall Performance"></p>

Solana Price Prediction: Will Solana Price Hold Its Gains Amid $25M Liquidations?

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