🚨🔍 Solana (SOL) Price Analysis 📊
Solana (SOL) is facing similar struggles to Ethereum, with its recovery stalling near the $160 resistance level. After a 5% rally last Friday, SOL managed to push above the 50-day SMA and settle at $145, but the 20-day SMA has acted as resistance, slowing momentum. Over the weekend, SOL saw modest gains, finishing Sunday at $147.
On Monday, broad crypto market recovery saw SOL surge almost 7%, breaking past $150 and the 200-day SMA, reaching $157. However, buyers hit strong resistance at $160, a level where SOL has been rejected multiple times since August. On Tuesday, SOL slipped to a day low of $150 before recovering to end the day at $154, down 2%. The current session sees indecision, with buyers and sellers battling for control.
If sellers take the upper hand, we could see SOL drop below $150, potentially testing $140. However, if buyers regain strength, a break above $160 could propel SOL towards the $180-$190 range.
🚀 Keep an eye on the battle at the $160 mark—this could determine the next big move for Solana!
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