Solana began a contemporary improve above the $172 help zone. SOL value is rising and may quickly purpose for a transfer towards the $200 stage.
- SOL value began a contemporary improve after it settled above the $165 stage towards the US Dollar.
- The value is now buying and selling above $172 and the 100-hourly easy shifting common.
- There was a break above a key bearish development line with resistance at $162 on the hourly chart of the SOL/USD pair (knowledge supply from Kraken).
- The pair may proceed to rise if it clears the $192 resistance zone.
Solana Price Starts Fresh Rally
Solana value fashioned a help base and began a contemporary improve above the $162 stage like Bitcoin and Ethereum. There was a powerful transfer above the $165 and $172 resistance ranges.
There was a break above a key bearish development line with resistance at $162 on the hourly chart of the SOL/USD pair. The value even cleared the $185 stage. A excessive is fashioned at $192 and the worth is now consolidating positive aspects. It is buying and selling above the 23.6% Fib retracement stage of the upward transfer from the $155 swing low to the $192 excessive.
Solana is now buying and selling above $172 and the 100-hourly easy shifting common. On the upside, the worth is dealing with resistance close to the $192 stage. The subsequent main resistance is close to the $195 stage.
The foremost resistance could possibly be $200. A profitable shut above the $200 resistance stage may set the tempo for one more regular improve. The subsequent key resistance is $212. Any extra positive aspects may ship the worth towards the $220 stage.
Another Dip in SOL?
If SOL fails to rise above the $192 resistance, it may begin a draw back correction. Initial help on the draw back is close to the $188 stage. The first main help is close to the $180 stage.
A break beneath the $180 stage may ship the worth towards the $172 zone or the 50% Fib retracement stage of the upward transfer from the $155 swing low to the $192 excessive. If there’s a shut beneath the $172 help, the worth may decline towards the $165 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 stage.
Major Support Levels – $188 and $185.
Major Resistance Levels – $192 and $200.
