Can Solana (SOL) Overcome Key Resistance and Ignite a Fresh Increase?<\/title>\n<meta name=\"description\" content=\"Solana declined again and tested the $160 support zone. SOL price is consolidating and might recover if it clears the $166 resistance zone.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/solana-sol-resistance-166\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Can Solana (SOL) Overcome Key Resistance and Ignite a Fresh Increase?\" \/>\n<meta property=\"og:description\" content=\"Solana declined again and tested the $160 support zone. 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{"id":611128,"date":"2024-06-03T02:58:47","date_gmt":"2024-06-03T02:58:47","guid":{"rendered":"https:\/\/uniquehot.com\/?p=611128"},"modified":"2024-06-11T14:46:24","modified_gmt":"2024-06-11T14:46:24","slug":"solana-sol-resistance-166","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/solana-sol-resistance-166\/","title":{"rendered":"Can Solana (SOL) Overcome Key Resistance and Ignite a Fresh Increase?"},"content":{"rendered":"

Solana declined again and tested the $160 support zone. SOL price is consolidating and might recover if it clears the $166 resistance zone.<\/em><\/p>\n

\n
SOL price corrected lower and tested the $160 support zone against the US Dollar.<\/li>\n
The price is now trading below $168 and the 100-hourly simple moving average.<\/li>\n
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).<\/li>\n
The pair could clear the $166 resistance unless it fails to stay above $160.<\/li>\n<\/ul>\n
Solana Price Eyes Recovery<\/h2>\n
Solana price remained in a short-term bearish zone like Bitcoin<\/a> and Ethereum<\/a>. SOL tested the $160 support zone and now consolidating losses. It is stuck below the $165 level.<\/p>\n
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.<\/p>\n
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.<\/p>\n
$\"Solana$ <\/a>
Source: SOLUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
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.<\/p>\n
More Losses in SOL?<\/h2>\n
If SOL fails to rally above the $166 resistance, it could start another decline. Initial support on the downside is near the $162 level.<\/p>\n
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.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for SOL\/USD is losing pace in the bearish zone.<\/p>\n
Hourly Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is below the 50 level.<\/p>\n
Major Support Levels \u2013 $162, and $160.<\/p>\n
Major Resistance Levels \u2013 $166, $168, and $172.<\/p>\n","protected":false},"excerpt":{"rendered":"
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. 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 \u2013 The MACD for SOL\/USD is losing pace in the bearish zone. Hourly Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is below the 50 level. Major Support Levels \u2013 $162, and $160. Major Resistance Levels \u2013 $166, $168, and $172.<\/p>\n","protected":false},"author":67,"featured_media":611130,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[12837,83626,89318,86410,83627],"class_list":["post-611128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-sol","tag-solana","tag-solbtc","tag-solusd","tag-solusdt"],"acf":[],"yoast_head":"\nCan Solana (SOL) Overcome Key Resistance and Ignite a Fresh Increase?<\/title>\n<meta name=\"description\" content=\"Solana declined again and tested the $160 support zone. 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