Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»Solana’s $160 Resistance Rejected – Will SOL Fall to $120?
ALTCOIN NEWS

Solana’s $160 Resistance Rejected – Will SOL Fall to $120?

By Crypto FlexsMay 10, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Solana’s 0 Resistance Rejected – Will SOL Fall to 0?
Share
Facebook Twitter LinkedIn Pinterest Email
  • Solana did not see buying pressure pick up during the month-long range consolidation.
  • The rejection of $160 highlighted how important resistance levels have been in recent weeks.

Solana (SOL) was forced to retreat from the $160 resistance area again.

A previous report by AMBCrypto indicated that SOL is likely to retreat into the one-month range unless the price reverses to support the $165-$170 region.

Another report pointed out that on-chain activity is also decreasing. This, in turn, reflected a decline in usage and demand for SOL. Therefore, traders can expect the current consolidation to continue.

Will we ever see a low point in the high rejection rate range again?

Solana 12-hour chart

Source: SOL/USDT on TradingView

The midpoint of the $156 to $116 range (purple) is $136. Additionally, the Fibonacci retracement levels of $141 and $122 are expected to act as support.

It has fallen 10.8% since the rejection on Monday 6 May.

At press time, the $141 level held as support, but it was unclear whether the decline could be sustained for the remainder of the week.

RSI on the 12-hour chart fell below the neutral 50 level in an early sign of growing bearish momentum.

The MACD showed that the bullish momentum was strengthening, but quickly reversed over the last 48 hours. At press time, MACD was neutral but expected to be bearish.

Traders can expect some relief bounce from the mid-range support at $136. Trading volume has remained consistently low over the past two weeks, and if this continues it is likely that it will fall back to the $122 level.

Speculative activity has stopped.

Solana Coin AnalysisSolana Coin Analysis

Source: Coin Analysis

Over the past month, Solana’s price has ranged, while open interest has remained relatively flat. There have been some dips and bounces, with price fluctuations between the extremes of the range.

This indicates a lack of optimistic confidence among futures market participants.


Realistic or not, the market cap of SOL in BTC terms is:


Spot CVD also formed a scope. This was a positive outcome for long-term bulls as it highlighted a period of consolidation. Ideally, buyers want spot CVD to trend higher during consolidation.

Given the uncertainty and fear in the current market, it is good enough that spot CVD has not started a downtrend.

Disclaimer: The information presented does not constitute financial, investment, trading or any other type of advice and is solely the opinion of the author.

Next: Polkadot: Despite April’s 22% Drop, Can DOT Reach $10 in May?

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The method of transforming ASTER WHALES into panic is as follows.

September 25, 2025

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

‘Fat Apps’ can lead the cryptographic story in the next few months.

September 11, 2025
Add A Comment

Comments are closed.

Recent Posts

Linea Price Spikes 14% as Swift selects Linea for the pilot

September 27, 2025

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025

LYS Labs Moves Beyond Data And Aims To Become The Operating System For Automated Global Finance

September 26, 2025

Dexari Unveils $1M Cash Prize Trading Competition

September 26, 2025

How to solve the XPL perp defect

September 26, 2025

Detect the full execution bug with the induction pursing of Wake

September 25, 2025

KuCoin Appeals FINTRAC Decision, Reaffirms Commitment To Compliance

September 25, 2025

Phemex Revamps Blog To Deliver Deeper Insights And Enhanced Reader Experience

September 25, 2025

T-REX Launches Intelligence Layer To Fix Web3’s Value Distribution Problem

September 25, 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

Linea Price Spikes 14% as Swift selects Linea for the pilot

September 27, 2025

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025
Most Popular

The FTX distributes bankruptcy $ 1.6 billion this month.

September 20, 2025

$1.58 billion worth of Bitcoin options expire today

December 15, 2023

70% of dead Korean exchanges leave investors high and dry

June 8, 2024
  • 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.