Solana surpasses Binance Coin as fourth-largest crypto
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According to the daily chart, Solana broke out of the descending triangle pattern on July 19.
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The SOL/USD pair has been forming a cup-and-handle chart pattern on the daily time frame since May 20.
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#Solana has bounced back from a dip at the $165 support level, signaling a crucial reversal.
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In the early session, #Solana converted the $185 resistance level into new support.
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$SOL now trades higher near the handle range and is pursuing a recovery toward the neckline resistance at $186.
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According to DefiLlama data, Solana’s Total Value Locked (TVL) has increased by over 8.8% in the past week, rising from $4.9 billion to $5.42 billion.
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According to Coingabbar analysis, A decisive daily candlestick close above the neckline could lead the SOL price to $252, up 35% from the current levels.
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If $SOL fails to hold above the $185 resistance, it could initiate another decline. Initial support is around $172, with major support at $170.
KEY LEVELS :
RESISTANCE LEVEL : $195.00-$210.00
SUPPORT LEVEL : $172.00-$160.00
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