Solana Price Positions for Spike Above $200, Breaking 8-Month Resistance; DOGE Must Break Key Level for More Upside

In the latest Rekt Capital newsletter, the crypto analyst provided insights on the performance of Solana (SOL) against USDT.

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Solana price positions for a spike above the $200 mark, breaking 8 months of resistance. Meanwhile, DOGE must break a key level for more upside.

In the latest Rekt Capital newsletter, the crypto analyst shared his insights on Solana (SOL) performance against USDT. The analyst had earlier anticipated a drop to $158 after SOL was rejected from resistance.

This update, however, reveals that SOL rebounded at precisely $159, rallying toward the confluent resistance marked by a red box and blue diagonal, eventually breaking through these levels. Notably, the previous week’s rejection, coupled with this week’s strong upward movement, suggests a weakening of the blue diagonal that had been a point of rejection since March.

As a result, it appears likely that SOL price will close the week above this resistance area, with the potential for a dip into this zone to establish new support, potentially setting the asset up for a move toward the $202 level.

Dogecoin could consolidate for a while

Shifting focus to Dogecoin (DOGE), the analyst recalled discussing in last week’s newsletter how DOGE was preparing for a retest of the May/June highs. These highs had earlier served as resistance, but DOGE managed to find support at that level earlier this month.

Following this, as anticipated, DOGE successfully retested that level as new support, leading to a remarkable 30% uptrend. The asset has adhered to the anticipated path, revisiting the significant $0.20 highs.

While a rejection from this resistance is expected, it is not anticipated to be as severe as earlier rejections this year. The analyst advised watching for a potential weakening of the black $0.20 level as resistance.

Although a rejection here is normal, any subsequent retrace is likely to be shallower than previously experienced.

Overall, it seems that DOGE will likely fluctuate between the blue $0.16 level and the $0.20 black resistance unless there is a monthly close above the black level, which would set the stage for further upside movement.

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