Solana began a contemporary enhance from the $142 help zone. SOL worth is now consolidating and may climb additional above the $155 resistance zone.
- SOL worth began a contemporary enhance above the $140 and $142 ranges towards the US Dollar.
- The worth is now buying and selling above $145 and the 100-hourly easy shifting common.
- There is a short-term contracting triangle forming with resistance at $152 on the hourly chart of the SOL/USD pair (information supply from Kraken).
- The pair may begin a contemporary enhance if it clears the $155 resistance zone.
Solana Price Consolidates Gains
Solana worth shaped a base above the $135 help and began a contemporary enhance, like Bitcoin and Ethereum. SOL gained tempo for a transfer above the $140 and $142 resistance ranges.
The pair even spiked towards the $155 resistance zone. A excessive was shaped at $153.30 earlier than there was a pullback. The worth dipped beneath $150. A low was shaped at $145 and the worth began a consolidation section above the 23.6% Fib retracement degree of the downward transfer from $153.30 swing excessive to the $145.54 low.
Solana is now buying and selling beneath $152 and the 100-hourly easy shifting common. There can be a short-term contracting triangle forming with resistance at $152 on the hourly chart of the SOL/USD pair.
On the upside, the worth is going through resistance close to the $149.50 degree. The subsequent main resistance is close to the $150 degree. The fundamental resistance might be $152 and the 76.4% Fib retracement degree of the downward transfer from $153.30 swing excessive to the $145.54 low.
A profitable shut above the $152 resistance zone may set the tempo for an additional regular enhance. The subsequent key resistance is $155. Any extra features may ship the worth towards the $165 degree.
Downside Correction in SOL?
If SOL fails to rise above the $150 resistance, it may begin one other decline. Initial help on the draw back is close to the $147 zone. The first main help is close to the $145 degree.
A break beneath the $145 degree may ship the worth towards the $138 zone. If there’s a shut beneath the $138 help, the worth may decline towards the $132 help within the close to time period.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is dropping tempo within the bullish zone.
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is beneath the 50 degree.
Major Support Levels – $147 and $145.
Major Resistance Levels – $150 and $155.
