Solana (SOL) Pushes Higher Again – Has It Finally Found Its Short-Term Bottom?
Solana began a contemporary enhance above the $180 zone. SOL worth is now consolidating above $185 and would possibly purpose for extra positive aspects above the $200 zone.
- SOL worth began a contemporary upward transfer above the $175 and $180 ranges in opposition to the US Greenback.
- The value is now buying and selling under $200 and the 100-hourly easy shifting common.
- There’s a bullish development line forming with help at $188 on the hourly chart of the SOL/USD pair (knowledge supply from Kraken).
- The pair might prolong positive aspects if it clears the $200 resistance zone.
Solana Value Eyes Extra Good points
Solana worth began an honest enhance after it discovered help close to the $155 zone, beating Bitcoin and Ethereum. SOL climbed above the $172 degree to enter a short-term constructive zone.
The value even smashed the $180 resistance. The bulls had been in a position to push the worth above the 50% Fib retracement degree of the downward transfer from the $225 swing excessive to the $155 low. Moreover, there’s a bullish development line forming with help at $188 on the hourly chart of the SOL/USD pair.
Solana is now buying and selling under $200 and the 100-hourly easy shifting common. On the upside, the worth is going through resistance close to the $198 degree and the 61.8% Fib retracement degree of the downward transfer from the $225 swing excessive to the $155 low. The subsequent main resistance is close to the $200 degree.
The principle resistance may very well be $205. A profitable shut above the $205 resistance zone might set the tempo for an additional regular enhance. The subsequent key resistance is $212. Any extra positive aspects would possibly ship the worth towards the $220 degree.
One other Decline In SOL?
If SOL fails to rise above the $200 resistance, it might begin one other decline. Preliminary help on the draw back is close to the $190 zone and the development line. The primary main help is close to the $182 degree.
A break under the $182 degree would possibly ship the worth towards the $175 help zone. If there’s a shut under the $175 help, the worth might decline towards the $160 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 Assist Ranges – $188 and $182.
Main Resistance Ranges – $198 and $200.
