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Mapping Solana’s short-term price targets – Key levels to watch!
Solana (SOL) has been trading within a broadening wedge and a right-angled ascending broadening pattern, indicating an imminent breakout. The asset consolidated near $138.97 at the time of writing, posing significant resistance near the 50-day moving average at $163.81.
A crucial level to watch is the region between $150-$160, as clearing this zone would confirm a bullish reversal and accelerate towards higher resistance zones, potentially reaching $200 and beyond. If SOL fails to gain momentum above these levels, it may lead to sustained consolidation near $130-$145.
Solana’s current price structure suggests that traders should closely monitor volume, Relative Strength Index (RSI) levels, and breakout confirmations before making significant moves. A failure to break out from the wedge could result in a period of stagnation or potentially even a bearish reversal.
The article highlights Solana’s recent chart pattern developments and crucial levels that have been identified as critical resistance points for both potential upside and potential downside movements.
Source: https://ambcrypto.com/mapping-solanas-short-term-price-targets-key-levels-to-watch/
