Cryptocurrency

Solana

Resistance

Gains

Coin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solanas-price-surges-in-the-cryptocurrency-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana’s Price Surges in the Cryptocurrency Market</a><br></p>
<p style="text-align: justify"><strong>Cryptocurrency</strong> markets saw Solana’s rise accompany the increase of other cryptocurrencies. Recent movements in SOL’s price have drawn <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investors</a>‘ attention to this popular cryptocurrency. SOL price, especially against the dollar, showed a significant increase, testing the $188 resistance.</p>
<h2 style="text-align: justify" id="sol-coin-gains-attention-with-impressive-rise">SOL Coin Gains Attention with Impressive Rise</h2>
<p style="text-align: justify">Currently, SOL is trading at the $180 level. An important uptrend line is becoming evident with $175 support on the hourly chart of the SOL/USD pair. However, if the pair cannot stay above $175, it may struggle to surpass the $188 resistance.</p>
<p style="text-align: justify"><strong>Solana</strong>‘s price uptrend started after forming a support base around $166. SOL transitioned to a positive zone, following the rises of other major cryptocurrencies like Bitcoin and Ethereum, managing to break above the $175 and $180 resistance levels. It tested the highest level at the $188 resistance.</p>
<p style="text-align: justify">Solana is currently trading above $180. The $175 support level on the hourly chart supports a significant uptrend. The immediate resistance is around $185, and the next major resistance level is near $188.</p>
<p style="text-align: justify">If a successful close above the $188 resistance occurs, it could signal a new major increase for SOL. The next key resistance level is around $195, and further gains could push the SOL price towards the $200 level.</p>
<h2 style="text-align: justify" id="levels-to-watch-if-solana-falls">Levels to Watch if Solana Falls</h2>
<p style="text-align: justify">SOL’s performance in the <a href="https://en.coin-turk.com/binance-announces-wallet-maintenance-for-bnb-smart-chain-bep20/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto market</a> is closely monitored. However, recently, SOL has struggled to overcome the $188 resistance. This increases concerns that <strong>SOL</strong> may enter a downward correction phase. Currently, SOL is moving towards nearby support levels as it trends downwards.</p>
<p><img fetchpriority="high" decoding="async" class="wp-image-353809 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/SOLUSDT_2024-05-21_09-33-27.png" alt="" width="1814" height="798"></p>
<p style="text-align: justify">In the current situation, SOL has support near the $182 level. However, in the case of a larger correction, the first target is the $178 level and the trend line. A close below this level could pull the price towards the $175 level in the near term and even retreat to the $166 support.</p>
<h2 style="text-align: justify" id="what-do-technical-indicators-say">What Do Technical Indicators Say?</h2>
<p style="text-align: justify">When examining technical indicators, we see that the hourly <strong>MACD</strong> is gaining momentum in the bullish zone for SOL/USD. Additionally, the hourly <strong>RSI</strong> (Relative Strength Index) is above the 50 level for SOL/USD. This level indicates that SOL is relatively strong at the moment.</p>
<p style="text-align: justify">However, it is also necessary to consider the possible support and resistance levels that SOL may encounter. Key support levels include $158 and $152. Resistance levels are set at $165, $172, and $180.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/solanas-price-surges-in-the-cryptocurrency-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Solana’s Price Surges in the Cryptocurrency Market</a></h5>

Solana’s Price Surges in the Cryptocurrency Market

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