Solana is gaining bullish momentum above $150. SOL worth is displaying optimistic indicators, and it might even surpass the $162 resistance within the close to time period.
- SOL worth began a recent improve from the $138 assist towards the US Dollar.
- The worth is now buying and selling above $150 and the 100 easy shifting common (4 hours).
- There is a connecting bullish pattern line forming with assist at $140 on the 4-hour chart of the SOL/USD pair (knowledge supply from Kraken).
- The pair might proceed to rally if it clears the $156 and $162 resistance ranges.
Solana Price Starts Fresh Rally
Solana worth fashioned a base above the $130 assist zone and just lately began a recent improve. There was a good improve above the $135 and $145 ranges.
The worth is up almost 10% and there was a transfer above the $150 stage, like Bitcoin and Ethereum. The bulls pushed the value above the 76.4% Fib retracement stage of the downward transfer from the $152.86 swing excessive to the $137.25 low.
Solana is now buying and selling above $150 and the 100 easy shifting common (4 hours). There can be a connecting bullish pattern line forming with assist at $140 on the 4-hour chart of the SOL/USD pair.
Source: SOLUSD on TradingView.com
Immediate resistance is close to the $156.50 stage. The subsequent main resistance is close to the $162.50 stage or the 1.618 Fib extension stage of the downward transfer from the $152.86 swing excessive to the $137.25 low. A profitable shut above the $162.50 resistance might set the tempo for an additional main improve. The subsequent key resistance is close to $175. Any extra beneficial properties may ship the value towards the $180 stage.
Are Dips Limited in SOL?
If SOL fails to rally above the $162.50 resistance, it might begin a draw back correction. Initial assist on the draw back is close to the $150 stage.
The first main assist is close to the $142.00 stage, under which the value might take a look at $138.00 and the pattern line. If there’s a shut under the $138.00 assist, the value might decline towards the $128.00 assist or the 100 easy shifting common (4 hours) within the close to time period.
Technical Indicators
4-Hours MACD – The MACD for SOL/USD is gaining tempo within the bullish zone.
4-Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 stage.
Major Support Levels – $152.80, and $162.50.
Major Resistance Levels – $150, $142, and $138.
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