This article examines the current price state of Solana (SOL), key support and resistance levels, and analyzes possible movement scenarios ahead.
Current Market Situation
Currently, Solana's price stands at about $147.43. Charts indicate a slowdown in the previous uptrend, suggesting uncertainty in the market. The Relative Strength Index (RSI) is at 47.60, indicating a neutral position—neither oversold nor overbought. This suggests the market is awaiting a clear catalyst.
Support and Resistance Levels
Key resistance is located near $160, where the price has struggled to break through in the past. On the lower side, support can be identified around $140–$142, where the price has rebounded multiple times before. Should a daily candle close below $142, a drop of 15-20% towards $120 can be anticipated.
SOL Price Prospects
If Solana's price manages to hold above $160, the next target would be within the range of $180 to $200, representing a potential increase of 22%. However, if the support level at $142 fails, a retreat to $120 appears more likely.
At present, Solana's chart indicates caution. Investors should watch the $142 level closely and monitor potential changes in the RSI for trend insights.
