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At the time of writing, SOL was down 2.02% in the last 24 hours to $156, mirroring the broader dip on the general crypto market.$230 Million Hack Stuns India's Largest Exchange: Shiba Inu and PEPE Among Affected At the start of the week, Ali highlighted a key pattern on Solana's price chart."Solana appears to be forming a W pattern, which suggests SOL will surge toward $174," Ali wrote on July 16.
Basing his inferences on this earlier prediction, Ali identified the $162-$164 resistance range as a crucial barrier for Solana. If SOL manages to break through this range, the next target for Solana might be $175.Breaking past the $162 and $164 levels, as highlighted by Ali, might, however, be crucial for initiating a bullish breakout that could lead to the $175 target and, especially, to the resistance cap of the current range at $188.
However, in the event of further declines, Solana's intermediate support lies at $148, or the daily SMA 50. If it falters, major support is envisaged between $121 and $122.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.