- The Solana price is already weakly testing the critical $193 support; failure to sustain this may trigger a further drop in value.
- The Solana price is currently at resistance point $189, a potential break on this level may see the coin rally towards point $203.
- The Solana price has been consolidating between the ranges of $180-$190, which indicates a possible breakout or a breakdown based on the direction of the market.
As the cryptocurrency market experiences continued volatility, Solana price is at a critical juncture as it approaches a critical support zone of $193. The move by Solana consolidates traders around the position of whether the price will move above the mark or breakdown.
With resistance levels still in play and market uncertainty remaining prevalent, the Solana price movement as the trading week begins will be of utmost importance to investors and traders.
Solana Price Eyes $193 Support Amid Market Uncertainty
As the cryptocurrency market remains volatile, analyst ali_charts emphasizes that Solana price would likely support its price to a new high above the critical support of $193. As price consolidates around the range of between $180 and $190, Solana price stands at approximately $187 after a recent peak of nearly 203. At $193, support is crucial and will likely determine the future price direction.
Source: ali_charts/X
The Solana price is already over $193 and may be consolidating or increasing. However, any break below this mark can lead to additional losses as it aims to test lower support levels. Any indications of strength or weakness around this critical level are keenly watched by traders.
The Solana price has since faced resistance at the $189 and $203 levels causing pullbacks. Breaking these levels is important as highlighted by an analyst ali_charts for a bullish continuation. Failure to break higher will leave the market torn, but a decisive break may result in additional gains.
Source: ali_charts/X
In case the Solana price breaks below $193, we can experience a stronger pullback down to $160-$170. Nonetheless, as long as the support holds at $193, it might indicate consolidation or a slow upward trend. The determining factor is whether Solana Price can sustain this support and govern the next leg.
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