Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Analysis: Solana breaks $150 resistance, but falling volume raises doubts

Analysis: Solana breaks $150 resistance, but falling volume raises doubts

Bitget2024/04/23 08:51
SOL+2.14%

According to U.Today, Solana finally broke through the $150 resistance level, laying the foundation for continued gains. However, despite breaking through the resistance, trading volumes have dropped significantly, possibly indicating a lack of confidence behind this rise, casting doubt on whether the price can sustain at these levels. If volume does not increase, it may mean that the price cannot sustain above $150, which could lead to a price pullback.

The 26- and 50-day EMAs are above, reflecting significant resistance levels that Solana must overcome. If these levels cannot be breached with confidence and corresponding volume, they could become the catalyst for a bear market reversal. For Solana’s future, continued gains will depend on post-halving market sentiment, project development, and the ability of buyers to drive and maintain high prices. Meme coins may also become a powerful catalyst for Solana. However, given the current state of the cryptocurrency market, Solana needs more buying support than it currently has.

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.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

EUR/USD falls to 1.17, down 0.34% intraday
金色财经2025/10/06 07:10

Trending news

More
1
Analyst: A "structural breakthrough" may be needed for gold prices to firmly surpass $4,000
2
U.S. government shutdown enters the second week, long-term Treasury yields continue to rise

Crypto prices

More
Bitcoin
Bitcoin
BTC
$123,730.18
-0.73%
Ethereum
Ethereum
ETH
$4,563.99
-0.53%
XRP
XRP
XRP
$2.99
-2.17%
Tether USDt
Tether USDt
USDT
$1
+0.02%
BNB
BNB
BNB
$1,209.56
+2.93%
Solana
Solana
SOL
$233.34
-0.97%
USDC
USDC
USDC
$0.9997
+0.02%
Dogecoin
Dogecoin
DOGE
$0.2571
-2.62%
TRON
TRON
TRX
$0.3439
+0.23%
Cardano
Cardano
ADA
$0.8487
-3.41%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter