COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Solana Faces Key Resistance Levels in the Crypto Market
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Solana (SOL) > Solana Faces Key Resistance Levels in the Crypto Market
Solana (SOL)

Solana Faces Key Resistance Levels in the Crypto Market

In Brief

  • Solana struggles to surpass $160 and $170 resistance levels.

  • Technical indicators suggest a potential downward trend.

  • Breaking below $145 could lead to further price declines.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

In recent days, the cryptocurrency known as Solana (SOL) has been facing certain resistance levels in its price movements. While SOL’s price struggles to overcome the $160 and $170 resistance levels, investors and analysts are closely observing the future prospects of the asset. So, which levels should be watched for Solana? At which levels could SOL coin fail?

Contents
SOL Price Encounters Resistance at This LevelA Decline Here Could Drive SOL Coin Price DownwardTechnical Indicators

SOL Price Encounters Resistance at This Level

According to data on the 4-hour chart for the SOL/USD pair, Solana’s price has encountered significant resistance at the $160 level. However, it is struggling to sustain trades above this level and is trending below the 100 simple moving average (4 hours).

Another important factor considered in technical analysis is the rising trend line formed at the $146 support. This trend line plays a critical role in determining the price movements of the SOL/USD pair.

However, a potential downward trend in the price of Solana, which ranks among the top five cryptocurrencies, should be considered. Especially if the asset continues to stay below the $160 and $170 levels for an extended period, another decline could begin.

A Decline Here Could Drive SOL Coin Price Downward

If SOL coin cannot rise above the $160 resistance, another downward trend could be initiated. Currently, the first support point downwards is positioned near the $145 level and close to the trend line. Breaking below this level could strengthen the expectation of further declines.

Further down, the first major support level for the cryptocurrency SOL is around $132. If the price attempts to break this level, a pullback towards around $120 could occur. If a close below the $120 support happens, a retreat to the $100 support level in the near term could be expected.

Technical Indicators

The 4-hour MACD metric continues to gain momentum in the negative zone for SOL/USD. This situation could indicate an increase in selling pressure for the cryptocurrency Solana.

The 4-hour RSI (Relative Strength Index) for SOL/USD is also trending below the 50 level. This could be considered an indicator that might strengthen the control of sellers. As of writing, Solana is trading at $146, which would require an approximate 10% increase to reach $160.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Approval Sparks Excitement in Cryptocurrency Markets!

Solana’s SOL Soars with Encouraging Price Movements

Discover How a Market Shift Propelled Solana’s Price Decline

Solana Breaks Barriers: Latest Technical Insights Propel Price Predictions

Solana Powers Up Dubai with Strategic VARA Partnership

COINTURK NEWS 25 April, 2024 - 2:23 pm 25 April, 2024 - 2:23 pm
Share This Article
Facebook Twitter
Share
Previous Article Turkey’s Central Bank Holds Interest Rates at 50%
Next Article SEC Likely to Reject Ethereum-Based ETF Applications
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Stablecoins Drive Massive Potential in Global Cryptocurrency Markets
Cryptocurrency News
GameStop Secures Funds for Bold Bitcoin Acquisition
Bitcoin News
Ripple Targets Bold Moves to Regain Momentum in Crypto Landscape
Ripple (XRP)
Bitcoin Keeps Price Enthusiasts on Edge with Tension Rising
Cryptocurrency News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?