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

Table of Contents

COINTURK NEWS

Outros artigos publicados em 3 de mai. de 2024

Is Buying XRP A Profitable Trade? Crypto Analyst Says It’s “Dead”

PayPal Partners with MoonPay to Offer Shiba Inu Purchases

It’s been a messy launch for friend.tech’s FRIEND token

Could Meme Coins PEPE; BONK; and FLOKI Double in Value This May?

Tether taps Chainalysis to track USDT activity on secondary markets

Hong Kong to Pioneer World’s First Ethereum Spot ETF, Opposes US Regulatory Speculation

Join our free newsletter for daily crypto updates!