CandleFocus Solana Price Could Skyrocket to $160 Following This Bullish Squeeze
2024-09-14
Author: Content Editor
The price of Solana (SOL) has been consolidating between $124 and $186, with the key resistance level at $160 being crucial for future price action. While some indicators suggest a potential rise, the momentum may not be strong enough to push the altcoin beyond $160. However, market signals, such as tightening Bollinger Bands and low trading volume, indicate a possible price surge towards this level. The widening gap in the Moving Average Convergence Divergence (MACD) indicator also suggests impending significant price movement. Solana is currently attempting to turn the $136 level into a strong support zone, with a successful flip potentially bringing momentum to push SOL towards $160. However, failure to breach $155 and a drop to $124 could invalidate the bullish outlook.
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