Solana began a recent improve from the $120 assist zone. SOL worth is now consolidating and would possibly climb additional above the $142 resistance zone.
- SOL worth began a recent improve above the $125 and $132 ranges in opposition to the US Dollar.
- The worth is now buying and selling above $130 and the 100-hourly easy transferring common.
- There is a connecting bullish pattern line forming with assist at $137 on the hourly chart of the SOL/USD pair (information supply from Kraken).
- The pair might begin a recent improve if it clears the $142 resistance zone.
Solana Price Gains Over 5%
Solana worth fashioned a base above the $120 assist and began a recent improve, like Bitcoin and Ethereum. SOL gained tempo for a transfer above the $125 and $132 resistance ranges.
The pair even spiked towards the $145 resistance zone. A excessive was fashioned at $143.06 and the worth is now retreating decrease. There was a transfer beneath the 23.6% Fib retracement degree of the upward transfer from the $135 swing low to the $143 excessive.
Solana is now buying and selling above $130 and the 100-hourly easy transferring common. There can also be a connecting bullish pattern line forming with assist at $137 on the hourly chart of the SOL/USD pair. The pattern line is near the 76.4% Fib retracement degree of the upward transfer from the $135 swing low to the $143 excessive.
On the upside, the worth is going through resistance close to the $142 degree. The subsequent main resistance is close to the $145 degree. The essential resistance may very well be $150. A profitable shut above the $150 resistance zone might set the tempo for an additional regular improve. The subsequent key resistance is $155. Any extra positive aspects would possibly ship the worth towards the $165 degree.
Pullback in SOL?
If SOL fails to rise above the $142 resistance, it might begin one other decline. Initial assist on the draw back is close to the $138.50 zone. The first main assist is close to the $137 degree and the pattern line.
A break beneath the $137 degree would possibly ship the worth towards the $132 zone. If there’s a shut beneath the $132 assist, the worth might decline towards the $125 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 – $137 and $132.
Major Resistance Levels – $142 and $145.
