NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Crypto Market Structure Talks: Senator Lummis Addresses Latest Legislation Plans
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Crypto Market Structure Talks: Senator Lummis Addresses Latest Legislation Plans

Can Solana (SOL) Overcome Key Resistance and Ignite a Fresh Increase?

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 2:46 pm
2 mins read
Solana

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Solana declined again and tested the $160 support zone. SOL price is consolidating and might recover if it clears the $166 resistance zone.

  • SOL price corrected lower and tested the $160 support zone against the US Dollar.
  • The price is now trading below $168 and the 100-hourly simple moving average.
  • There is a connecting bearish trend line forming with resistance at $165 on the hourly chart of the SOL/USD pair (data source from Kraken).
  • The pair could clear the $166 resistance unless it fails to stay above $160.

Solana Price Eyes Recovery

Solana price remained in a short-term bearish zone like Bitcoin and Ethereum. SOL tested the $160 support zone and now consolidating losses. It is stuck below the $165 level.

There was a minor move above the 23.6% Fib retracement level of the downward move from the $170 swing high to the $161.50 low. Solana price is now trading below $166 and the 100-hourly simple moving average. Immediate resistance is near the $165 level.

There is also a connecting bearish trend line forming with resistance at $165 on the hourly chart of the SOL/USD pair. The next major resistance is near the $166 level. A successful close above the $166 resistance could set the pace for another major increase.

Solana Price
Source: SOLUSD on TradingView.com

The next key resistance is near $168 or the 61.8% Fib retracement level of the downward move from the $170 swing high to the $161.50 low. Any more gains might send the price toward the $172 level.

More Losses in SOL?

If SOL fails to rally above the $166 resistance, it could start another decline. Initial support on the downside is near the $162 level.

The first major support is near the $160 level, below which the price could test $155. If there is a close below the $155 support, the price could decline toward the $150 support in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is losing pace in the bearish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level.

Major Support Levels – $162, and $160.

Major Resistance Levels – $166, $168, and $172.

Tweet123Share196ShareSend
Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

bitcoin-crisis-fed-rate-cut-risk-repeating-7-down-6-pattern-what-next

比特幣危機!聯準會降息恐「7 跌 6」重演,BTC接著怎麼走?

本週,全球市場的目光聚焦於美國聯準會(FED)的最新議息會議,特別是市場對於降息的熱切期盼。然而,對於加密貨幣投資者而言,歷史數據卻敲響了警鐘。過去數次的 FED 重大利率決策期間,比特幣的價格走勢往...

Ter Yim 2 hours ago
Will The Crypto Market Benefit From The Trump Fed Takeover?

Will The Crypto Market Benefit From The Trump Fed Takeover?

The prospect of a “Trump Fed takeover” is rapidly becoming a central macro theme for 2026, with some traders arguing...

Jake Simmons 3 hours ago
poker-strategy-guide-gambling-vs-investing-modern-side-hustle-view

撲克玩家〡賭博還是投資?4大撲克策略定位與現代副業思維

在大眾眼中,撲克常被視為賭場娛樂,是由運氣主導的博弈。然而在新世代的玩家與內容創作者推動下,這項遊戲的深度逐漸被社會重新認識。它不再只是輸贏,而是一項結合概率、心態與人性洞察的智力競技。 21歲大學生...

newsbtc 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum price

Ethereum Price Climbs Toward $3,300 For The First Time Since November: What’s Driving The Surge?

Ronaldo Marquez 45 minutes ago
Ethereum

Historic Reversal: Ethereum ETF Flows Plunge To Worst Month Since Launch

Godspower Owie 46 minutes ago
Solana (SOL) Turns Lower From Key Zone

Solana (SOL) Turns Lower From Key Zone—Is Support About to Be Tested?

Aayush Jindal 1 hour ago

Premium Sponsors

Press Releases

  • ドージコイン 今後:ネットワーク指標が3か月ぶり高水準に到達、次に何が起きるのか

    ドージコイン...

    13 hours ago
  • リップル 今後:XRPが再び下落し市場に動揺広がるも、大幅反発の兆しが示されつつある

    リップル...

    13 hours ago
  • 仮想通貨 プレセール:有望なビットコイン系L2プロジェクトが世界的な関心を集め続ける

    仮想通貨...

    14 hours ago
  • ビットコイン...

    14 hours ago
  • シバコイン 今後はどうなる

    シバコイン...

    14 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.