SOL is currently trading at $131.43, slightly below the mentioned price of $133.82. Here's an analysis based on current market trends:
Key Levels to Watch
- *Resistance Zone*: $134.40-$135.00 - A breakout above this zone could lead to $136.50 and $138.00.
- *Support Zone*: $133.20-$132.50 - A breakdown here might push the price to $131.20 and $129.80.
Trade Setup
- *Bullish Entry*: Above $135.00, with targets at $136.50 and $138.00.
- *Bearish Entry*: Below $132.50, with targets at $131.20 and $129.80.
Stop-Loss Strategy
Use stops just outside the breakout or pullback levels to minimize risks from fakeouts in this volatile zone.
According to recent analysis, Solana (SOL) faces hurdles near the $160 resistance zone. If SOL fails to rally above $160, it could start another decline. Major support levels are at $140 and $132, while major resistance levels are at $150, $160, and $182 ¹.
Keep in mind that the current price is $131.43, and the market is showing a 2.70% increase. It's essential to stay updated with market trends and adjust strategies accordingly .