Solana probes resistance
\nSolana bullish scenario:<\/p>\n
The Solana end-of-June bullish<\/a> breakout from its downtrend channel has taken it to its June peak at $168.34, which it has been trying to overcome since last week.<\/p>\n Even though intraday moves saw Solana rise above the $168.34 high, reaching a two-month high at $168.64 this week, it has not achieved a daily chart closing above this level. Bulls<\/a> are waiting for such a technical confirmation to occur.<\/p>\n If this were to happen, the May peak at $187.68 would be back in focus.<\/p>\n Solana bearish scenario:<\/p>\n As long as Solana remains below this week’s $168.64 high on a daily chart closing basis, a retest of the June-to-July uptrend line at $158.70 may unfold.<\/p>\n A fall through Tuesday’s $157.27 low could bring the 55-day simple moving average (SMA)<\/a> at $154.64 into play.<\/p>\n Should this level also give way, the 1-to-4 July lows at $145.30 to $144.95 represent another possible downside target zone.<\/p>\n