Solana (SOL) has shown strength in the crypto market, defying the trend of altcoin price slump. Despite market turbulence lately, SOL has maintained support at $125, interesting prominent crypto analysts. These experts have analyzed SOL’s levels that could potentially trigger an upward movement for the crypto asset.
Solana’s (SOL) Price Analysis
Crypto analyst Posty highlighted Solana’s resilience in a recent tweet. He noted, “The fact that support at $125 is still holding is low key impressive relative to 99% of altcoins out there.” This observation underscores SOL’s unique position in the current market landscape.
However, Posty tempered his enthusiasm with caution. He added, “It’s hard to put a real bullish argument together until $155 is reclaimed.”
This statement suggests that while SOL’s current performance is noteworthy, a more substantial price movement may require breaking through higher resistance levels.
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Solana (SOL) Price Prediction
Another analyst, Satoshi Flipper, provided his perception into Solana’s potential price trajectory. Examining the SOL/USDT 4-hour chart, he described Solana as “a pillar of strength lately.”
$SOL/usdt 4 hrSOLANA, a pillar of strength lately –> once $SOL flips $155, think $200 comes faster than we think pic.twitter.com/qrAFxPRddx
— Satoshi Flipper (@SatoshiFlipper) July 8, 2024
Satoshi Flipper proposed an optimistic scenario, stating, “Once $SOL flips $155, think $200 comes faster than we think.”
This analysis aligns with Posty’s view, highlighting the $155 level as a critical threshold for Solana’s next bullish move. If SOL manages to break and hold above this price point, it could pave the way for a rapid ascent towards the $200 mark.
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Show more +Show less – Consolidation and Potential Reversal
Crypto Rand offered additional perspective on Solana’s current market position. He observed that SOL is “not giving up here…continues consolidating.” This consolidation phase suggests that the asset is building a base for potential future movements.
Crypto Rand identified a specific price target for traders to monitor. He stated, “Looking to break the $160 level for the reversal.”
This level is slightly higher than the $155 threshold mentioned by other analysts, indicating that a move above $160 could confirm a bullish trend reversal for Solana.
Solana’s ability to maintain support at $125 while eyeing higher resistance points demonstrates its resilience. However, a breakout above the $155-$160 range appears necessary to unlock SOL’s full bullish potential and potentially drive its value towards the coveted $200 mark.
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