Solana ‘Must Break Descending Resistance’ To Regain Bullish Momentum – Analyst

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Solana ‘Must Break Descending Resistance’ To Regain Bullish Momentum – Analyst - NewsBTC

Quick Summary:

This pivotal moment could determine Solana’s near-term trajectory as it battles to reclaim bullish momentum. According to top analyst Carl Runefelt, who shared insights on X, Solana faces a critical test at a descending resistance level that has consistently capped its gains.

Runefelt’s technical analysis, focused on the 2-hour SOL chart, highlights this resistance around the $164 mark. He suggests a confirmed breakout above this level would likely propel Solana higher, signaling a return to bullish price action.

This critical level has held firm despite market volatility, and now all eyes are on Solana as it attempts to regain bullish momentum.With the U.S.election unfolding and the Federal Reserve’s interest rate decision just around the corner, this week promises to bring heightened volatility across the crypto market.