Are Solana approaching the recovery of $ 160? Analysts expect a close start

Solana is preparing, according to its recent movements, to test a decisive resistance level that may open the door again to the level of $ 200 if it is successfully penetrated.

At a time when the market is moving accidentally, Solana continues to pressure between the levels of important support and resistance, amid expectations for a close breakthrough.

Vital support for $ 147

After it fell to its lowest level in two months at $ 126 on June 22, Solana regained some of her strength, especially after the announcement of the launch of a new trading fund (ETF) supported by Solana in the United States by Rex Shares.

After this news, the price rose towards resisting $ 160, but failed to penetrate it, and during the past week it was fluctuating between 145 and 155 dollars.

During Tuesday, the price fell to the level of support for $ 147 before it was bounced again, and the analyst “Ali Martinez” indicated that $ 147.59 represented a major support zone and its breaking may lead to a decline of about $ 141, which was also confirmed by the analyst “Man of Bitcoin”, which indicated the importance of 141.91 dollars as a support level that may determine whether the corrective wave will continue or not.

A rising triangle and paving for the penetration of $ 160

On the other hand, analyst Karl Ronifet explained that Solana is heading towards breaking the formation of a similar triangle on the daily chart, likely to test the level of $ 162 soon, and if the price can penetrate the range of 152 to 153 dollars, we may witness a 10.8% jump towards $ 167.

According to an analysis published by “Cryptonomist”, Solana succeeded on Sunday in breaking a tilted resistance line that lasted for several days, and was later re -tested as a support level after the price bounced twice around $ 147, indicating the possibility of resuming the rise.

A look at the macro level

As for the analyst “Crypto Jelle”, he confirmed that Solana is still moving within a long -term price range between 125 and 180 dollars, explaining that the currency “is only awaiting bitcoin penetration to join it”, and that restoring the level of $ 160 might hurry to reach 200 dollars and then to new record levels.

At the moment of writing this report, Solana is trading at $ 151.51, achieving a weekly increase by 3.6%.