Prime XBT App
Prime XBT App
Download and Trade Now!

Solana (SOL/USD) pressing into resistance, trend remains strong

Solana (SOL/USD) continues to be one of the strongest performers in the altcoin space, with price action remaining firmly bullish as it presses into a key resistance zone around 185 dollars. The recent rally has shown impressive momentum, and Solana is now trading near the upper boundaries of its recent expansion move.

Right below current prices, we have the 167 level, which has been cleanly reclaimed as support. Further down, we see the 157 zone acting as high time frame support, confluent with both a previous breakout level and the classic Fibonacci “reload zone” between the 0.618 and 0.786 retracement levels.

If Solana continues its upward trajectory, the next major level of interest sits at 220 dollars, a high time frame resistance that could act as a magnet if bullish momentum accelerates.

On the other hand, if price begins to stall at these current levels, we could be looking at a potential distribution range forming around 185. In that scenario, the 157 level would become critical to monitor as a potential downside target and area for a more substantial pullback.

For now, Solana remains technically strong, and traders will be watching closely to see if bulls can clear resistance and drive a move toward new highs or if the market opts for consolidation and deeper retracement first.

Solana (SOL/USD) pressing into resistance, trend remains strong - image1 25 1024x563


Trading involves risk.

Author

PrimeXBT
Our Editorial Team consists of leading experts with a proven record in the fields of trading, cryptocurrencies, blockchain and finance. We thoroughly research the sources of information in order to provide readers with quality content that serves edu...
Read author’s articles
Alert Triangle Risk Disclaimer
Disclaimer: The content provided here is for informational purposes only. It is not intended as personal investment advice and does not constitute a solicitation or invitation to engage in any financial transactions, investments, or related activities. Past performance is not a reliable indicator of future results.
The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.

Ready to put your insights into action?

Receive the latest news and stay informed.

Start Trading Start Trading
Start Trading

Need Help?

Risk Warning:
Trading in leveraged products carries a high level of risk and may not be suitable for all investors.