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Here's an updated look at Solana (SOL) after it reached ~$158:
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📈 Current Price Overview
SOL is currently trading at around $158, equivalent to $24,970 for 158 Solana coins.
Throughout the day, the price moved between $149.6 and $158.5, approaching strong resistance at ~$158–159.
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Technical Indicators and Analysis
SOL experienced a sharp decline of ~4.5% after repeated failures to break through the resistance level at $158–159, with strong support currently near **$152–153**.
A technical pattern such as the "inverted double bottom" suggests a potential bullish rebound if resistance at $158 is surpassed, which could drive the price toward **$200**.
TradingView's site gives a "buy" recommendation, supported by simple and moving average convergence and momentum indicators.
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Potential Scenarios
Scenario Details
🎯 Breaking Resistance If the price exceeds $158–159 with strong trading volume support, SOL could reach $180–200. ⚠️ Failure to Break If the breakout fails, the price may test support at $152–153, or even $150 if selling pressure continues. 🏦 Supply Concerns Delayed events such as the release of 11.2 million SOL from FTX may negatively impact, as seen in February 2025.
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Short-Term Recommendation
Closely monitor the $158–159 and $152–153 levels, as they are key to the price direction.
A strong entry with volume at breakout can indicate the potential for a strong upward wave.
Conversely, a drop below $152 may open the door to $144–150.
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Shiba Inu (SHIBA) has recently seen a significant rise in value 📈, driven by growing investor interest and a general bullish trend in the crypto market 🚀. This surge reflects the community's optimism about upcoming projects like Shibarium and the expanding utility of the token 🔥💰.
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1. Breakout The price broke through a descending channel (the two slanted pink lines) from above, which is considered a strong bullish signal. 2. Current Price: The current price is around 108,010.99 USDT. There is a clear target at the level of 110,091.97 USDT, which represents a resistance level. 3. Technical Indicators (MACD + RSI): The MACD shows a positive crossover and a sharp rise in the bars.
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