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Renowned crypto trader Credible Crypto expressed positive views on Solana 
$161, while also sharing reservations compared to Ethereum 
$2,579. The analyst noted that Solana tested significant levels between $165 and $190 before reaching a new high of approximately $293. However, resistance formed in its pairing with Bitcoin 
$104,737 is cited as a primary reason for a cautious approach to buying strategies.
Price Movements and Testing Process
According to the analyst’s statements, Solana underwent critical technical tests while reaching its new peak. The observed movements on price charts may have created positive expectations in the market. It is considered that the horizontal price movements are attracting attention in the short term.
As the SOL/USD pair experiences price discovery, there is a significant resistance zone noted in the SOL/BTC pair. The resistance hovering around 0.003 BTC is suggested as a risk factor that could limit progress. This situation may capture the attention of traders engaging in short-term transactions.
Analyst Observations
The current trading price is indicated to be around $237. This level is viewed as an important reference point in the market’s technical analysis. It is advisable for traders to consider this point in their short-term strategies.
Market assessments suggest that following the overcoming of the resistance zone, Solana could potentially reach higher levels. However, it is emphasized that existing resistance factors and overall market dynamics should also be taken into account when making buying decisions.
Evaluations indicate that while Solana presents positive signals at its current technical levels, a cautious approach is adopted due to resistance against Bitcoin. Traders should closely monitor developments considering potential risks and opportunities.
