#Solana prices exhibit notable strength amid overall market upward pressure.
$SOL price maintains an uptrend, reversing from a longstanding support trendline.
The bull run exceeds the $200 mark but encounters a recent dip to the $125 support trendline.
Strong demand at the $120 support zone and the 50% Fibonacci level reinforce the bull run, resulting in a 25% price surge in the last 7 days.
On the 4-hour chart, $SOL/USDT breaks out of the bearish channel, signaling short-term bullish momentum.
A double-bottom pattern emerges, with price finding support around the $120 zone and a neckline identified at $160.
With the unbroken bullish trend, #Solana aims to surpass $200 by breaching the double bottom neckline.
According to Coingabbar analysis, If bulls fail to breach the neckline, a reversal from $160-$165 could retest $150 or $135 supports.
KEY LEVELS :
RESISTANCE LEVEL : $163-$168
SUPPORT LEVEL : $152-$146
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.
