Solana (SOL) faces key resistance levels as the broader crypto market shows bullish momentum. Crypto analyst Cilinix Crypto shared insights on Solana’s market position in a YouTube video analysis. The analyst highlighted important technical levels and fundamental strengths that could drive SOL’s price in the coming weeks.
Solana (SOL) Price Analysis
Cilinix Crypto identified $162 and $160 as crucial resistance levels for Solana. Breaking these barriers is essential for SOL to reach higher targets. The analyst stated, “The main level we need to break out of is $162 and $160; that’s the main resistance level.”
Bitcoin’s performance significantly influences Solana’s price action. Cilinix noted, “If Bitcoin continues to be bullish like this, it would be weird if Solana would not break out.” This observation underscores the interconnectedness of the crypto market.
SOL Price Prediction
Solana’s momentum has fluctuated over recent days, according to Cilinix. Strong momentum is necessary for a successful breakout. The analyst expects a potential pullback to the $150s before an upward trend resumes.
Cilinix advised viewers to set a price alert at $164. He explained, “Place a price alert at $164 because if we break above that today, then I was wrong and we will still get up to that level.” This guidance helps traders stay informed about significant price movements.
Despite short-term volatility, Cilinix remains optimistic about Solana’s prospects. He predicted, “I do expect us to break out above $162 and to rally up to $175 at the very least sometime in the next one to two weeks.” This forecast suggests potential gains for SOL holders.
Next Big Airdrop?
Notcoin airdrop on Telegram made millions to people. Don’t miss out on the next TG airdrop by the same team – Dogs on Ton!
Show more +Show less –
Read also: Worldcoin’s WLD Crypto Price Pumping: Here’s Why
Market Perception
Solana’s fundamental strengths contribute to its bullish outlook. Cilinix emphasized, “Solana is still the second biggest blockchain out there, the most successful layer one blockchain outside of Ethereum and Bitcoin.” This position in the market enhances Solana’s appeal to investors.
Additionally, Solana’s Total Value Locked (TVL) and network activity remain robust. These factors, coupled with the potential for a Solana ETF, bolster the blockchain’s long-term narrative. Cilinix’s continued investment in SOL reflects his confidence in the project’s future.
Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?Get all our future calls by joining our FREE Telegram group.
Check $RECQ Meme Coin Sponsored: Invest Responsibly, Do Your Own Research. Buy RECQ Today Serves as the base currency for all transactions within the Rebel Satoshi platform ICO stage, offering tokens at a discounted price Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
The post Solana Eyes $175: Will SOL Surpass Key $162 Price Resistance Amid Bullish Surge? appeared first on CaptainAltcoin.