Solana Price Nears Key Resistance, Global Liquidity Signals Upside Potential
Solana (SOL) price is approaching a critical resistance level, capturing the attention of many investors. Recent trends indicate an uptick in the global money supply, signaling favorable conditions for risk assets like Solana coin.
As M2 global liquidity expands, Solana price appears to be poised for a potential breakout beyond its current resistance, aligning with positive macroeconomic conditions that could lead to significant upward movement.
Solana Price Faces Key Resistance Levels
Solana price has demonstrated strength recently, bouncing off support zones between $134 and $140.
That suggested a potential bullish reversal. It was testing the upper boundary of a descending channel at press time, which often occurs before upward movements.
A break above the $150 resistance could lead to further gains, with targets between $170 and $185, and possibly even $260 and $320.
Rising trading volume supports the likelihood of a breakout. Increased volume typically indicates growing interest from traders, often leading to larger price movements. It suggested that Solana could be preparing for a move above its current resistance levels.
