Solana Forms Higher Low: Charging Toward Range Highs? 📈
Solana is holding firm above $150 amid bullish momentum in the broader crypto market. With Bitcoin and Ethereum on the rise, investor sentiment is improving, leading analysts to suggest that altcoins like Solana are poised for upward movement once major coins confirm a breakout.
Jelle, a top analyst, highlighted Solana's higher low, indicating growing strength, and a potential retest of key resistance levels if buyer pressure remains. The $150 level is a short-term support base, bolstering the bullish outlook.
Solana is testing resistance near $175, a zone of previous price caps, as market conditions improve. Despite optimism, caution persists with Solana and other altcoins below their all-time highs. Breaking above $185 could drive Solana back to new highs.
The $175–$185 zone is crucial for confirming a breakout, offering potential for "Solana season." Current trading is at $165.80, near pivotal moving averages, signaling potential further upside with sustained momentum. Cleareance of the 100-day SMA could lead to a $190–$200 range retest.
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