Solana experienced a sharp price spike, briefly reaching $170 before running into strong resistance and plummeting again. Although the move first suggested a possible breakout toward the crucial $200 level, the rejection shows that the bulls were unable to maintain the momentum. In spite of this, the market is seeing a spike in trading volume, which suggests that investor interest is high. The 26-day Exponential Moving Average, a crucial sign of trend reversals, was surpassed by Solana during its most recent rally. The price swiftly turned around and dropped back below this mark, indicating that sellers are still in charge for the time being. SOL is currently trading at about $161, and the immediate resistance is in the $170-$175 range.
