Solana Forms Higher Low: Charging Toward Range Highs?
Summary
Solana is maintaining a position above $150, benefiting from bullish momentum in the crypto market as Bitcoin and Ethereum rise. A technical analysis indicates that SOL has formed a higher low, signaling potential strength and a move toward resistance levels. The $150 zone serves as short-term support, and a breakout in BTC and ETH could catalyze Solana's upward movement. Currently, SOL is approaching resistance just below $175, which has historically limited price increases. A breakout above $185 is identified as crucial for reaching new all-time highs. The market shows signs of accumulation, suggesting a shift in momentum, with the $185 level being pivotal for confirming a significant rally.
