$SOL Price Recovery: $160 Soon? - BeinCrypto Analytics

Currently, Solana’s price is trading at $132 after bouncing back from the support level of $126. For SOL to resume its upward trajectory, it must break through the local resistance at $137. Achieving this would pave the way for a push towards the $160 mark. Historical data shows that Solana has experienced similar consolidation phases between $126 and $160, suggesting a rise to this level could be next.

The factors supporting this forecast are substantial, given that in the past, SOL around $126 has led to subsequent price increases. If SOL maintains its gradual upward momentum, the range-tested level of $137 could act as a springboard for further gains, making a rise to $160 plausible in the coming days. However, Solana has been hovering under the $137 resistance level recently. If SOL fails to breach this barrier, it might continue its sideways movement. This stagnation could dampen the bullish sentiment and potentially invalidate the optimistic price forecast.