Solana began a gradual enhance above the $155 zone. SOL worth is signaling a good enhance above the $162 and $165 resistance ranges.
- SOL worth began a good upward transfer above the $155 resistance in opposition to the US Dollar.
- The worth is now buying and selling above $158 and the 100-hourly easy transferring common.
- There is a key bullish pattern line forming with help at $159 on the hourly chart of the SOL/USD pair (knowledge supply from Kraken).
- The pair might intention for extra upsides if it clears the $162.50 resistance degree.
Solana Price Remains In Uptrend
Solana worth remained in a constructive zone above $145 and prolonged its enhance above $150. SOL is forming a base and eyeing extra upsides, whereas Bitcoin and Ethereum are correcting features.
There was a transfer above the $158 degree. The worth surpassed the 50% Fib retracement degree of the latest decline from the $164.90 swing excessive to the $154.85 low. There can be a key bullish pattern line forming with help at $159 on the hourly chart of the SOL/USD pair.
Solana is now buying and selling above the $158 degree and the 100-hourly easy transferring common. On the upside, the worth would possibly face resistance close to the $162.50 degree. It is near the 76.4% Fib retracement degree of the latest decline from the $164.90 swing excessive to the $154.85 low.
The subsequent main resistance is close to the $165 degree. A profitable shut above the $165 resistance might set the tempo for an additional regular enhance. The subsequent key resistance is close to $172. Any extra features would possibly ship the worth towards the $180 degree.
Are Dips Supported in SOL?
If SOL fails to rise above the $162.50 resistance, it might begin a draw back correction. Initial help on the draw back is close to the $160 degree. The first main help is close to the $158 degree and the pattern line.
A break under the $158 degree would possibly ship the worth towards $155. If there’s a shut under the $155 help, the worth might decline towards the $150 help within the close to time period.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining tempo within the bullish zone.
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 degree.
Major Support Levels – $158 and $155.
Major Resistance Levels – $162.50 and $165.
