Solana (SOL) Holding Strong Above $150 — Breakout Zone In Play
Solana began a recent enhance from the $132 assist zone. SOL value is now consolidating and may climb additional above the $155 resistance zone.
- SOL value began a recent enhance above the $135 and $150 ranges in opposition to the US Greenback.
- The value is now buying and selling above $150 and the 100-hourly easy transferring common.
- There’s a connecting bullish development line forming with assist at $150 on the hourly chart of the SOL/USD pair (information supply from Kraken).
- The pair may begin a recent enhance if it clears the $155 resistance zone.
Solana Value Beneficial properties Over 10%
Solana value shaped a base above the $132 assist and began a recent enhance, like Bitcoin and Ethereum. SOL gained tempo for a transfer above the $135 and $145 resistance ranges.
The pair even spiked towards the $150 resistance zone. A excessive was shaped at $154.55 and the worth is now consolidating beneficial properties. There was a minor transfer under the 23.6% Fib retracement stage of the upward transfer from the $145 swing low to the $155 excessive.
Solana is now buying and selling above $150 and the 100-hourly easy transferring common. There may be additionally a connecting bullish development line forming with assist at $150 on the hourly chart of the SOL/USD pair. The development line is near the 50% Fib retracement stage of the upward transfer from the $145 swing low to the $155 excessive.
On the upside, the worth is going through resistance close to the $154 stage. The subsequent main resistance is close to the $155 stage. The principle resistance might be $162. A profitable shut above the $162 resistance zone may set the tempo for one more regular enhance. The subsequent key resistance is $175. Any extra beneficial properties may ship the worth towards the $180 stage.
Pullback in SOL?
If SOL fails to rise above the $155 resistance, it may begin one other decline. Preliminary assist on the draw back is close to the $150 zone. The primary main assist is close to the $145 stage.
A break under the $145 stage may ship the worth towards the $138 zone. If there’s a shut under the $138 assist, the worth may decline towards the $132 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 Power Index) – The RSI for SOL/USD is above the 50 stage.
Main Assist Ranges – $150 and $145.
Main Resistance Ranges – $155 and $162.
