The post SOLANA PRICE ANALYSIS & PREDICTION (October 24) – SOL Trades Flat After Rejection – Possible Sell Could Be In Play appeared on BitcoinEthereumNews.com.

Following past weeks of increase, Sol broke out of critical resistance to a new high in two months. Losing buzz this week, it appeared to have reached an exhaustion point. A potential drop lurks around the corner. So far, this month has been bullish for Sol after initiating a buy from the $133 level. This led to a slight break out of the critical $163 resistance level that suppressed bullish actions since the price recovered in August. The breakout, which came last weekend, triggered more buys to $171 on Monday before losing steam. It attempted to push higher yesterday but failed due to a rejection. The price is briefly down today as it trades flat. Sol’s latest rejection suggests an exhaustion in buying and from the look of things, it may initiate a pullback soon. The $160 level is the closest support to watch for a drop. From there, we may see a quick rebound. Losing that support may trigger more drops until it finds a solid ground. On a monthly scale, the bulls are still in control. If they manage to push above Monday’s high, we can anticipate bigger gains towards $190. Looking at the current setup, Sol is attempting to close this week on a bearish note. That could bring a little setback for the fifth largest crypto before resuming bullish. SOL’s Key Level To Watch Source: Tradingview A pullback under $160 could plunge the price back to last week’s $147.7 support. The monthly $135.5 support is the next to watch in case of dips. Breaking higher, the $181.6 and $194 resistance would be the next buying levels to keep in mind. The higher resistance for breakup stands at $210. Key Resistance Levels: $181.6, $194, $210 Key Support Levels: $160, $147.7, $135.5 Spot Price: $165.3 Trend: Bullish Volatility:…

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Filed under: News - @ October 24, 2024 7:24 am