SOL Impact Key Resistance Zone, After Accumulation May Challenge New Highs
SOL's daily chart shows a strong bullish candle, with slightly increased trading volume but no significant signs of a surge in volume. The price has approached the critical resistance level of 164 USD that we previously indicated, which is also where the weekly MA30 moving average is located, facing a short-term technical adjustment demand.
Although SOL's short-term trend is still influenced by Bitcoin, its daily level upward momentum remains strong, and it is expected to continue the upward trend after a pullback. The next target is around 180 USD, and if the breakout is strong, it may further challenge the 190-200 USD range. The current price level has entered the profit-taking zone, and investors may consider taking partial profits while waiting for low-buy opportunities after a pullback.
Key Price Levels Reminder
Upper resistance to watch at 165 USD, 175 USD, 186 USD, and 200 USD;
Lower support to watch at 145 USD, 132 USD, 121 USD, and 110 USD.
The market needs to complete sufficient turnover in this key area to accumulate enough momentum for subsequent upward movement.
