Solana Prediction: Can $150 Support Pave the Way to $200?

Solana launches v1.18.15; validators upgrade for stability

• #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

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.