Solana is located in its middle position after many oscillations during the past weeks. The Solana price experienced volatility as well after the Federal Reserve lowering its interest rate – it surged by 26% however, it then fell by 17% proving the stability in the crypto market is still unpredictable. Shareholders are expected and ready for the next big move.
Several analysts are following Solana closely, and one of them said that $160 is a significant level. If it goes past this level, it may lead to another round of price increase, though, if it fails in do so, the prices may drop again.
The next days will likely be critical for Solana as investors await whether the coin will increase or not or will it remain to drop.
Solana faces key resistance at $160: Will it break through or pull back
Solana fluctuates after weeks of volatility; investors remain in doubt after the latest pullback. Some have even expected higher returns, but this recent decline has made people to start being careful. Now, all eyes are on important levels that could either define a further movement.
According to the top analyst Daan on X Solana was at highs of $160 three times and now it makes higher lows which might depict bullishness.
Daan believes Solana might break through the $160 level soon. If it does, it could climb to new highs, but if it fails, Solana may keep moving between $120 and $160. Investors are keeping a close eye on what will happen next.
Solana (SOL) is currently trading at $143 after some choppy price movements. It’s now testing the important 4-hour 200 exponential moving average (EMA) at $144.55. This level is a key resistance point, and if SOL breaks above it, a bullish trend could continue.
If SOL holds above the 4-hour 200 EMA, the next goal for bulls is the $160 level, which could lead to more gains. But if SOL doesn’t break past the $144.55 resistance, it might drop to lower levels.
If rejected, SOL could fall to $127, a key support level where traders will look for signs of strength or further decline. The next few days will be important in deciding whether Solana will keep rising or face a deeper pullback.
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