Solana

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-price-dynamics-and-key-levels-to-watch/" data-wpel-link="internal">Solana Price Dynamics and Key Levels to Watch</a><br></p>
<p style="text-align: justify"><a href="https://en.coin-turk.com/bitcoin-consolidation-and-solanas-market-performance/" data-wpel-link="internal">Solana</a> showed a downward trend over the weekend following the tensions between Israel and Iran, with its price starting to retreat towards the $110 levels. However, the current <strong><a href="https://en.coin-turk.com/solanas-price-surge-attracts-investor-attention/" data-wpel-link="internal">SOL</a></strong> price is compensating for the losses above $140 and is approaching the $160 resistance zone. Let’s look at what is expected for the price from here on out.</p> 
<h2 style="text-align: justify" id="which-levels-have-become-significant-for-solana-sol-price">Which Levels Have Become Significant for Solana (SOL) Price</h2> 
<p style="text-align: justify">Currently, the SOL price has gained downward momentum by falling below $150 against the dollar. The price is trading below the $160 level and the 100 simple moving average. On the 4-hour chart of the SOL/USD pair, there is a clear downtrend line with the $160 resistance level. However, if the pair can surpass the resistance levels of $150 and $160, it may continue to recover.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-340195 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/solana-usdt-coin-turk-com-1-1.png" alt="" width="1829" height="799"></p> 
<p style="text-align: justify">Solana’s price experienced a significant drop below the support levels of $180 and $160, losing more than 20% of its value. However, a recovery around $110 eventually occurred with the entry of bulls into the market.</p> 
<h2 style="text-align: justify" id="solana-price-is-recovering">Solana Price Is Recovering</h2> 
<p style="text-align: justify"><strong>Solana</strong>‘s price recorded the lowest level at $115.04 and currently, the price seems to be moving with the recovery wave seen in other cryptocurrencies like <a href="https://coin-turk.com/unlu-analist-8-populer-kripto-para-birimi-icin-zirve-fiyat-tahminlerini-acikladi" data-wpel-link="internal">Bitcoin</a> and <a href="https://coin-turk.com/ethereum-eth-icin-kader-ani-milyonlar-kazanan-yatirimci-yorumladi" data-wpel-link="internal">Ethereum</a>. There was a significant increase above the $125 and $132 levels. Solana is currently trading below $150 and the 100 simple moving average (4-hour), with immediate resistance near the $150 level. The next major resistance is near the $160 level.</p> 
<p style="text-align: justify">On the 4-hour chart of the SOL/USD pair, there is also a significant downtrend line formed with the $160 resistance. A successful close above the $160 resistance could determine the pace of another major increase. The next key resistance is around the $182 level. Further gains could direct the price towards the $200 level.</p> 
<h2 style="text-align: justify" id="failure-at-sol-could-lead-to-these-levels">Failure at SOL Could Lead to These Levels</h2> 
<p style="text-align: justify">If SOL cannot break above the $160 resistance, a new downtrend could begin. Currently, the first level of support on the downside is around $140. The first major support is positioned near the $132 level, and below this level, the price has the potential to retreat to the $125 levels.</p> 
<p style="text-align: justify">If a close below the $125 support occurs, further declines towards the $115 support level can be expected in the near term. Looking at the technical indicators, the 4-hour MACD indicator for the SOL/USD pair is gaining upward momentum. However, at the same time, the <strong>RSI</strong> (Relative Strength Index) is trending below the 50 level, which could indicate that selling pressure may continue.</p> 
<p style="text-align: justify">The main support levels are determined as $140 and $132, while the resistance levels are seen as $150, $160, and $182, respectively.</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-dynamics-and-key-levels-to-watch/" data-wpel-link="internal">Solana Price Dynamics and Key Levels to Watch</a></h5>

Solana Price Dynamics and Key Levels to Watch

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