Solana (SOL) is holding firm above $160, even as the broader market experiences a dip. Despite facing short-term fluctuations, Solana shows resilience. Analysts, like Carl Runefelt, suggest a potential increase to $176, citing bullish patterns but caution against broader market corrections.
Solana recently broke past the $160 resistance, suggesting a shift in its monthly trend. Investors watch for continued bullish momentum as Solana holds this critical support level. Breaking $160 signals potential for further gains.
Runefelt highlights a symmetrical triangle pattern on Solana's charts, indicating potential strong price movement if SOL breaks above $168. A push past this level could target $176, marking new local highs.
Despite recent resistance at $171, Solana's rebound from the $150 daily moving average shows resilience and potential upside. The coming days will be crucial for SOL's trajectory, with eyes on whether bullish momentum maintains or consolidation occurs below $171.
