After a recent dip, Solana (SOL) has gained momentum, breaching the $154 resistance level. However, bulls face potential roadblocks at the $162-$166 zone, which could trigger a bearish reversal. While breaking above $165 is crucial for continued upward movement, risk-averse traders may consider taking profits at $154 and $160 before re-entering.
This has proven to be the case. After a drop to $141.1 on Sunday ,the 22nd of September, SOL has gained 5.85% to trade at $149.3 at press time. In other news, technical analystOver the past four months, Solana has traded within a range that extended from $122 to $186. The mid-range level at $154 was the 50% retracement level based on the rally in February and March.
The daily RSI also climbed above neutral 50 to signal a momentum shift. Hence, it is likely that SOL will advance past $154.While a daily session close above $154 would be encouraging, the battle would not be over even then. The price chart showed the local highs of the past two months were formed at $160-$163.
Solana SOL Cryptocurrency Price Prediction Resistance Bullish Reversal
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