Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»EXCHANGE NEWS»Can Solana (SOL) overcome major resistance and trigger a new rally?
EXCHANGE NEWS

Can Solana (SOL) overcome major resistance and trigger a new rally?

By Crypto FlexsJune 3, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Can Solana (SOL) overcome major resistance and trigger a new rally?
Share
Facebook Twitter LinkedIn Pinterest Email

Solana declined again and tested the $160 support area. SOL price is consolidating and could recover once it breaks out of the $166 resistance area.

  • SOL price adjusted lower and tested the $160 support zone against the US dollar.
  • The price is currently trading below $168 and the 100-hour simple moving average.
  • On the hourly chart of the SOL/USD pair, there is a bearish trendline connecting with resistance at $165 (data source from Kraken).
  • Failure to maintain above $160 could lead to removal of the $166 resistance level.

Solana Price Eyes Recovery

Solana’s price remained in a bearish region for a short period of time, like Bitcoin or Ethereum. SOL tests the $160 support area and is now consolidating losses. It remains below the $165 level.

There was a move slightly above the 23.6% Fib retracement level, moving downward from the $170 swing high to the $161.50 low. Solana price is currently trading below $166 and the 100-hour simple moving average. Immediate resistance is near the $165 level.

On the hourly chart of the SOL/USD pair, there is also a bearish trend line connecting with resistance at $165. The next major resistance is near the $166 level. A successful close above the $166 resistance could set the pace for another big rally.

Source: SOLUSD on TradingView.com

The next major resistance is the 61.8% Fib retracement level near $168 or a downside move from the $170 swing high to the $161.50 low. Any more profits could push the price higher to the $172 level.

Will there be more losses in SOL?

If SOL fails to rebound above the $166 resistance, it could begin another downtrend. Initial support for the downside is near the $162 level.

The first major support is near the $160 level, below which the price may test $155. If the price closes below the $155 support, the price may decline towards the $150 support in the near term.

technical indicators

Hourly MACD – The MACD for SOL/USD is losing speed in bearish territory.

Hourly RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level.

Key support levels – $162 and $160.

Key resistance levels – $166, $168, $172.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Cardano (ADA) will be capped under the resistance -will buyers regain control?

June 2, 2025

Ether Leeum price is faced with light correction -focus of support level

June 1, 2025

Bitcoin prices extend losses. Is it a bigger disadvantage on the horizon?

May 31, 2025
Add A Comment

Comments are closed.

Recent Posts

WES Cockx uses Redshift to explore bold 3D art in the render network.

June 2, 2025

Traders change their strategies in tariff confusion

June 2, 2025

How smart EOA finances your wallet experience

June 2, 2025

Actual assets thrive in BNB chains as the ecosystem increases.

June 2, 2025

Bitcoin is rebounded to more than $ 104,300 as tariff chaos causes almost $ 1B of liquidation.

June 2, 2025

The government holds bitcoin for strategic financial diversification

June 2, 2025

Cardano (ADA) will be capped under the resistance -will buyers regain control?

June 2, 2025

GeForce now launches a default app for Steam Deck to improve the cloud game experience.

June 1, 2025

Altseason is open -how is these two coins leading the claim?

June 1, 2025

India and Indonesia are leading 30,000 cases.

June 1, 2025

BNB Chain unveils incentive programs to increase actual asset projects.

June 1, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

WES Cockx uses Redshift to explore bold 3D art in the render network.

June 2, 2025

Traders change their strategies in tariff confusion

June 2, 2025

How smart EOA finances your wallet experience

June 2, 2025
Most Popular

Decima Fund secures 4.5 billion yen to support Japanese Web3 ventures

March 16, 2024

December newsletter on everything about BitPay and cryptocurrency

December 22, 2023

JK-AnalyticsClub.net- encryption transactions through advanced analysis

April 25, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.