Solana climbed larger above the $140 resistance zone. SOL value is rising and may acquire bullish momentum if it clears the $155 resistance.
- SOL value is trying a recent improve above the $142 pivot degree in opposition to the US Dollar.
- The value is now buying and selling above $148 and the 100-hourly easy shifting common.
- There is a key bullish pattern line forming with assist at $147.50 on the hourly chart of the SOL/USD pair (knowledge supply from Kraken).
- The pair may acquire bullish momentum if it breaks the $155 resistance zone.
Solana Price Regains Traction
Solana value climbed above the $138 and $140 ranges. SOL gained tempo after there was an in depth above the $145 resistance degree, like Bitcoin and Ethereum. Finally, the bulls pushed the value above the $150 degree.
A excessive was fashioned at $153.22 and the value is now consolidating positive aspects. There was a minor pullback beneath the $152 degree. The value examined the 23.6% Fib retracement degree of the upward transfer from the $144.40 swing low to the $153.22 excessive.
Solana is now buying and selling above $145 and the 100-hourly easy shifting common. There can be a key bullish pattern line forming with assist at $147.50 on the hourly chart of the SOL/USD pair.
On the upside, the value is dealing with resistance close to the $153.50 degree. The subsequent main resistance is close to the $155 degree. The predominant resistance may very well be $158.
A profitable shut above the $155 and $158 resistance ranges may set the tempo for one more regular improve. The subsequent key resistance is close to $162. Any extra positive aspects may ship the value towards the $175 degree.
Another Decline in SOL?
If SOL fails to rise above the $155 resistance, it may begin one other decline. Initial assist on the draw back is close to the $150 degree. The first main assist is close to the $147.50 degree or the pattern line. It is near the 61.8% Fib retracement degree of the upward transfer from the $144.40 swing low to the $153.22 excessive.
A break beneath the $147.50 degree may ship the value towards the $144.50 zone. If there’s a shut beneath the $144.50 assist, the value may decline towards the $138 assist 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 – $147.50 and $144.40.
Major Resistance Levels – $155 and $162.
