🤔 Will Solana Price Hit $160 Soon?

Solana (SOL) is gaining fresh attention in the crypto market as price action heats up after an extended consolidation period. Following a slow bleed from its highs earlier this year, SOL is now attempting to reclaim key technical levels. The question on every investor’s mind is clear: is this the start of a bigger bullish breakout, or just a temporary bounce before more downside? Let’s dive into the daily and hourly charts to uncover what lies ahead for Solana.

🔸 #Solana Price Prediction: Why Is Solana’s Price Climbing Right Now?

After weeks of stagnation near the $100 mark, Solana has finally started showing signs of strength. The move appears to be driven by a combination of factors: renewed buying interest in large-cap altcoins, market-wide recovery sentiment, and encouraging technical signals. On the daily chart, Solana has pushed past its 20-day and 50-day simple moving averages, closing at around $134.69. The Heikin Ashi candles are showing consecutive green bodies, signaling continuous buyer control, while the Accumulation/Distribution Line is slowly trending upward — a subtle but important signal that accumulation is taking place behind the scenes.

The larger crypto market has also shown signs of stabilizing, which gives SOL a more supportive environment to attempt a reversal. But it’s not just macro factors at play. The structure of the Solana chart suggests that the worst of the downtrend may be behind us — provided the next resistance zones are tackled with volume.

🔸 Daily Chart Analysis: A Crucial Turning Point?

Solana’s daily chart paints a cautiously optimistic picture. The price has managed to break above the cluster of moving averages that have suppressed rallies over the past month, including the 50-day and 100-day SMAs. These moving averages now sit below the current price, and could serve as support on any pullback. However, the real test lies ahead. The $140 level, which acted as a pivot zone in previous months, now presents itself as immediate resistance.

#SOL

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