Solana (SOL) has recently experienced a notable price increase, approaching the crucial resistance level of $160. Despite being rejected at this level last week, the altcoin's price continues to struggle to cross it. This recent uptick in SOL’s price is attributed to the emergence of new long positions.
As fresh long positions begin to fuel the market, experts and analysts are optimistic about SOL’s potential surge. The increased activity in long positions has been a significant driver for the upward price movement.
Analysts believe that breaking through the resistance level could lead to further gains for Solana. The cryptocurrency's impressive performance has caught the attention of both traders and investors, signaling a bullish trend in the market.
Source: www.thecoinrepublic.com ↗
