Solana climbed larger above the $140 resistance zone. SOL worth is rising and may achieve bullish momentum if it clears the $155 resistance.
- SOL worth is trying a recent improve above the $142 pivot degree in opposition to the US Greenback.
- The worth is now buying and selling above $148 and the 100-hourly easy shifting common.
- There’s a key bullish pattern line forming with help at $147.50 on the hourly chart of the SOL/USD pair (knowledge supply from Kraken).
- The pair may achieve bullish momentum if it breaks the $155 resistance zone.
Solana Value Regains Traction
Solana worth climbed above the $138 and $140 ranges. SOL gained tempo after there was an in depth above the $145 resistance degree, like Bitcoin and Ethereum. Lastly, the bulls pushed the worth above the $150 degree.
A excessive was shaped at $153.22 and the worth is now consolidating features. There was a minor pullback beneath the $152 degree. The worth examined the 23.6% Fib retracement degree of the upward transfer from the $144.40 swing low to the $153.22 excessive.
Solana is now buying and selling above $145 and the 100-hourly easy shifting common. There’s additionally a key bullish pattern line forming with help at $147.50 on the hourly chart of the SOL/USD pair.
On the upside, the worth is going through resistance close to the $153.50 degree. The subsequent main resistance is close to the $155 degree. The principle resistance might be $158.
A profitable shut above the $155 and $158 resistance ranges may set the tempo for one more regular improve. The subsequent key resistance is close to $162. Any extra features may ship the worth towards the $175 degree.
One other Decline in SOL?
If SOL fails to rise above the $155 resistance, it may begin one other decline. Preliminary help on the draw back is close to the $150 degree. The primary main help is close to the $147.50 degree or the pattern line. It’s near the 61.8% Fib retracement degree of the upward transfer from the $144.40 swing low to the $153.22 excessive.
A break beneath the $147.50 degree may ship the worth towards the $144.50 zone. If there’s a shut beneath the $144.50 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 degree.
Main Help Ranges – $147.50 and $144.40.
Main Resistance Ranges – $155 and $162.
