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Solana (SOL) price faces key resistance, breakthrough imminent

Solana (SOL) price faces key resistance, breakthrough imminent

2024/02/08 09:54
SOL-0.05%

According to CryptoPotato's report, Solana is facing key resistance again after a brief pullback. Key support level: $78, key resistance levels: $104 and $126. 1. Resistance pressure: The $104 resistance is currently the main factor restricting Solana's rise. Sellers are weak, and bulls may break through this level. 2. Breakthrough imminent? Buyers have controlled the chart in the past three days, with daily closes showing an upward trend. Today's push could quickly lead Solana to break through the resistance level. Momentum also favors the bulls. 3. MACD accelerating upwards: Since the bullish cross at the end of January, the daily MACD has once again hit a new high on the histogram. If this trend continues, a breakthrough seems imminent.RSI above 50 favors continued bullish momentum.In general,SOL shows a bullish tendency.
Short-term forecast for SOL price: A breakout above $104 is likely.If buyers turn it into a support level,SOL will open up a path to higher levels with the next important target being $126.
It is worth noting that despite yesterday's major outage on the Solana network,the situation is still evolving

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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