Solana Breaks Downtrend Line: Trump’s Crypto Stance and Key Resistance at $180
Solana has recently broken the downtrend line on its daily timeframe, which has garnered significant attention in the crypto market. This shift in momentum comes amidst former President Donald Trump’s comments on cryptocurrencies, where he named XRP, Solana, and Cardano as potential candidates for a U.S. crypto reserve. His statements have sparked renewed interest in these assets, pushing their value upward.
Currently, Solana is facing resistance at the $180.00 level. For traders looking to enter a long position, it’s crucial to wait for a breakout above this key resistance. Confirming the breakout would require the price to close above the $180 level in a 4-hour timeframe. Until then, caution is advised, as the market continues to test this critical threshold.
Traders should monitor the situation closely for any signs of a breakout or rejection at the $180 level. If Solana manages to close above this level, it could signal the next phase of its upward momentum, with potential for further gains. However, patience is essential to ensure the breakout is confirmed before entering any long positions.
Solana has recently broken the downtrend line on its daily timeframe, which has garnered significant attention in the crypto market. This shift in momentum comes amidst former President Donald Trump’s comments on cryptocurrencies, where he named XRP, Solana, and Cardano as potential candidates for a U.S. crypto reserve. His statements have sparked renewed interest in these assets, pushing their value upward.
Currently, Solana is facing resistance at the $180.00 level. For traders looking to enter a long position, it’s crucial to wait for a breakout above this key resistance. Confirming the breakout would require the price to close above the $180 level in a 4-hour timeframe. Until then, caution is advised, as the market continues to test this critical threshold.
Traders should monitor the situation closely for any signs of a breakout or rejection at the $180 level. If Solana manages to close above this level, it could signal the next phase of its upward momentum, with potential for further gains. However, patience is essential to ensure the breakout is confirmed before entering any long positions.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.