Solana is gaining tempo above the $150 resistance zone. SOL value is rising and may purpose for a contemporary enhance above the $158 resistance zone.
- SOL value began a contemporary enhance above the $150 zone towards the US Greenback.
- The worth is now buying and selling above $152 and the 100-hourly easy transferring common.
- There’s a key bullish pattern line forming with help at $150 on the hourly chart of the SOL/USD pair (information supply from Kraken).
- The pair may once more acquire bullish momentum if it clears the $158 resistance zone.
Solana Value Eyes Extra Upsides
Solana value 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 worth 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. Nevertheless, the bulls had been energetic close to the $154 help zone.
Solana is now buying and selling above $152 and the 100-hourly easy transferring common. There may be additionally a key bullish pattern line forming with help at $150 on the hourly chart of the SOL/USD pair. It’s near the 61.8% Fib retracement stage of the upward transfer from the $146 swing low to the $158 excessive.
On the upside, the worth is dealing with resistance close to the $158 stage. The following main resistance is close to the $162 stage. A profitable shut above the $158 and $162 resistance ranges may set the tempo for an additional regular enhance. The following key resistance is close to $174. Any extra positive factors may ship the worth towards the $180 stage.
Extra Downsides in SOL?
If SOL fails to rise above the $158 resistance, it may begin one other decline. Preliminary help on the draw back is close to the $153 stage. The primary main help is close to the $150 stage.
A break beneath the $150 stage may ship the worth towards the $145 zone. If there’s a shut beneath the $145 help, the worth may decline towards the $138 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 Energy Index) – The RSI for SOL/USD is above the 50 stage.
Main Assist Ranges – $153 and $150.
Main Resistance Ranges – $158 and $162.