Solana is gaining tempo above the $150 resistance zone. SOL worth is rising and would possibly goal for a recent enhance above the $158 resistance zone.
- SOL worth began a recent enhance above the $150 zone in opposition to the US Dollar.
- The worth is now buying and selling above $152 and the 100-hourly easy transferring common.
- There is a key bullish pattern line forming with assist at $150 on the hourly chart of the SOL/USD pair (knowledge supply from Kraken).
- The pair might once more acquire bullish momentum if it clears the $158 resistance zone.
Solana Price Eyes More Upsides
Solana worth prolonged its enhance above the $150 resistance like Bitcoin and Ethereum. SOL even climbed above $155 earlier than the bears appeared. A excessive was shaped at $1582 and the value began a draw back correction.
There was a transfer beneath the $156 and $155 ranges. The worth dipped beneath the 23.6% Fib retracement stage of the upward transfer from the $146 swing low to the $158 excessive. However, the bulls had been energetic close to the $154 assist zone.
Solana is now buying and selling above $152 and the 100-hourly easy transferring common. There can be a key bullish pattern line forming with assist at $150 on the hourly chart of the SOL/USD pair. It is near the 61.8% Fib retracement stage of the upward transfer from the $146 swing low to the $158 excessive.
On the upside, the value is going through resistance close to the $158 stage. The subsequent main resistance is close to the $162 stage. A profitable shut above the $158 and $162 resistance ranges might set the tempo for an additional regular enhance. The subsequent key resistance is close to $174. Any extra positive aspects would possibly ship the value towards the $180 stage.
More Downsides in SOL?
If SOL fails to rise above the $158 resistance, it might begin one other decline. Initial assist on the draw back is close to the $153 stage. The first main assist is close to the $150 stage.
A break beneath the $150 stage would possibly ship the value towards the $145 zone. If there’s a shut beneath the $145 assist, the value might 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 stage.
Major Support Levels – $153 and $150.
Major Resistance Levels – $158 and $162.
