Solana faces a significant uphill battle to reach the community's desired trajectory. Despite heavy volatility, SOL is anticipated to close the year on a positive note, despite the challenges posed by the Bitcoin Halving, which has already hinted at potential value corrections. Concerns linger about SOL potentially trading at new lows or fluctuating within undesired ranges in the market.

Currently, SOL is encountering a halt around the $140-$150 mark, with the first resistance zone being tested at $132. A breach above $146 signals bullish sentiments. However, technical indicators offer a contrasting view. SOL has been hovering around $115 and has established a 26.3% Fib retracement level between $130-$140.

Trading below $160 or the 100 SMA based on a 4-hour timeframe is considered bearish, with a possibility of a bullish surge in the future. The highest and lowest swings are recorded at $205 and $115, respectively.

Community members have adjusted their previously booked gains, with those remaining anticipating a longer period to maintain their holdings. A resurgence in SOL could result in paper profits for some or prolonged paper losses. This situation could be attributed to Bitcoin's decline, which has initiated a bearish trend across the market, with BTC currently standing at $63,9850.10, down by 3.64% in the last 24 hours.

Bitcoin's retracement factor, attributed to speculation by analysts, suggests a correction, while simultaneously hinting at a potential surge to $100,000 by the year's end. SOL's price prediction indicates the token maintaining positive momentum in 2024. Technical indicators, like the hourly MACD, suggest a return to a bearish phase while not discounting the possibility of surpassing $170.

The next key point is $160, representing the 50% Fib Retracement Level of the downward wave. The SOL/USD pair aims for an early rise to $155, which will determine the nearest resistance level to test as time progresses. It's currently challenging to predict the next decline, but a drop to $120 could usher in an undesirable zone, though $100 could still serve as a short-term support level.

There are two major support levels at $146 and $132, and three major resistance levels at $155, $160, and $170. Peaking at $170 would ideally pave the way for a surge to the $200+ range.

Ether has undergone a similar phase, likely influenced by the absence of an Ether ETF. SOL is expected to react to Bitcoin's sentiments following the Halving event, which effectively reduced rewards for miners, making the token scarcer and more expensive to purchase. Moving forward, SOL's price movements will draw significant attention on the charts, potentially leading to a value exceeding $200.