Solana began a recent decline from the $155 zone. SOL worth is now consolidating close to $145 and would possibly prolong losses beneath the $142 help.
- SOL worth began a recent decline beneath the $150 and $148 ranges towards the US Dollar.
- The worth is now buying and selling beneath $150 and the 100-hourly easy shifting common.
- There is a short-term rising channel or a continuation sample forming with help at $144 on the hourly chart of the SOL/USD pair (information supply from Kraken).
- The pair may begin a recent improve if it clears the $148 resistance zone.
Solana Price Consolidates Gains
Solana worth shaped a base above the $142 help and began a recent improve, like Bitcoin and Ethereum. SOL gained tempo for a transfer above the $145 and $150 resistance ranges.
However, the bears have been energetic beneath the $155 resistance zone. A excessive was shaped at $153.90 and the worth began a recent decline. The worth dipped beneath $150 and $148. A low was shaped at $142.64 and the worth is now consolidating losses.
There was a minor transfer above the 23.6% Fib retracement degree of the downward transfer from the $153.90 swing excessive to the $142.64 low. Solana is now buying and selling beneath $150 and the 100-hourly easy shifting common. There can also be a short-term rising channel or a continuation sample forming with help at $144 on the hourly chart of the SOL/USD pair.
On the upside, the worth is going through resistance close to the $147 degree. The subsequent main resistance is close to the $150 degree and the 61.8% Fib retracement degree of the downward transfer from the $153.90 swing excessive to the $142.64 low. The important resistance might be $155. A profitable shut above the $155 resistance zone may set the tempo for an additional regular improve. The subsequent key resistance is $165. Any extra positive factors would possibly ship the worth towards the $180 degree.
More Losses 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 $145 zone. The first main help is close to the $142 degree.
A break beneath the $142 degree would possibly ship the worth towards the $135 zone. If there’s a shut beneath the $135 help, the worth may decline towards the $122 help within the close to time period.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining tempo within the bearish zone.
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is beneath the 50 degree.
Major Support Levels – $145 and $142.
Major Resistance Levels – $147 and $150.
