💥💥💥 Can #SolanaPrice Reach $180 After Breaking Out Against $ETH ?
Solana Price Eyes $180 Resistance
- Solana (SOL) has rebounded, currently trading at $146 after briefly surpassing $150. It continues to outperform Ethereum, gaining 4.29% over the last year, while Ethereum is down 18.46%. Key factors driving Solana’s rise include:
- #Memecoin🤑🤑 Boom: Platforms like Pump.fun are boosting activity on Solana.
- Low Fees & High Speeds: Solana’s efficiency during network traffic has attracted users compared to Ethereum’s higher fees.
- TVL Shift: Solana’s Total Value Locked (TVL) share has increased, while Ethereum’s share dropped, showing growing investor confidence in Solana.
Price Analysis
- Solana is forming an inverse head-and-shoulders pattern, signaling a potential bullish reversal. If SOL breaks $160, it could target $180, with further resistance around $200.
Potential Downside
- Failure to break $160 could lead to a pullback to $148, with key support at $140.
Conclusion
With Solana’s technical breakout and continued
outperformance against Ethereum, $180 is the next major resistance level. However, a failure at $160 could trigger a retracement.
Source - coingape.com
