#Solana reached a monthly high of $188 on May 20 but declined to $145 thereafter. The price extended losses below the $150 support zone.
Despite triggering a minor bull run in late 2023, rejection from yearly highs above $200 initiated a fresh descending trend.
The price has been forming constant lower lows and highs, indicating growing bearish strength, possibly leading to a rally towards crucial support levels.
On the daily chart, Solana is trading within a Symmetric Triangle pattern.
Currently consolidating, Solana's price might recover if it surpasses the $154 resistance zone.
According to Coingabbar analysis, If the market favors the bulls, SOL could regain momentum and test the $155 resistance level by the upcoming weekend.
Additionally, surpassing this zone may propel the altcoin towards its upper high of $200 this month.
Conversely, failure to regain momentum could result in continued bearish influence, with SOL potentially testing its crucial support level of $126.75 in the near future.
KEY LEVELS :
RESISTANCE LEVEL : $160-$175
SUPPORT LEVEL : $144-$132
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