Cryptocurrency Solana breaks through the resistance level of $ 150

Solana SOL $254.88 Solana 6.84% Market capitalization $120.96 billion VOL. 24 hours $2.14 billion has finally broken through the $ 150 resistance level, setting the stage for a continued rally. This milestone is important because the resistance level that the coin overcame was considered a barrier between a bull and bear market.

However, despite the breakthrough, there has been a noticeable decline in trading volumes in the crypto asset. This, according to industry experts, could potentially indicate a lack of confidence in the correctness of the movement, which calls into question the sustainability of the SOL price above this level. If the trading volume does not increase, this may indicate that the breakout above $ 150 may not hold. In turn, this scenario will lead to a price correction.

the 26-day and 50-day exponential moving averages (EMAs) are on top, reflecting significant resistance levels that SOL needs to overcome to maintain its upward momentum. If these levels are not overcome with confidence and appropriate volume, they could become catalysts for a bearish reversal. For the growth scenario to unfold, the token needs to establish a new support level above the recently broken $ 150 mark. If SOL manages to hold its position above this line, the next challenge will be to reach the EMA.

The next psychological resistance will be $ 170. As for the future of Solana, further growth will depend on market sentiment after the bitcoin halving BTC $97,947.67 Bitcoin 3.22% Market capitalization $1.94 trillion VOL. 24 hours $6.7 billion , project development, and the ability of buyers to drive and maintain high prices. Meme coins could also be a strong catalyst for Solana.