Solana is holding good points above the $150 resistance zone. SOL value is consolidating and may purpose for a contemporary enhance above the $162 resistance zone.
SOL value began a contemporary enhance above the $155 zone towards the US Greenback.
The worth is now buying and selling close to $155 and the 100-hourly easy transferring common.
There’s a key rising channel forming with help at $155 on the hourly chart of the SOL/USD pair (information supply from Kraken).
The pair might begin one other enhance if it stays above the $155 help zone.
Solana Worth Regains Traction
Solana value prolonged its enhance above the $155 resistance like Bitcoin and Ethereum. SOL even climbed above $160 earlier than the bears appeared. A excessive was fashioned at $162 and the worth began a draw back correction.
There was a transfer under the $160 and $158 ranges. Nevertheless, the bulls had been lively close to the $155 help zone. A low is fashioned at $155 and the worth is now consolidating losses under the 23.6% Fib retracement degree of the latest decline from the $162 swing excessive to the $155 low.
Solana is now buying and selling close to $155 and the 100-hourly easy transferring common. There’s additionally a key rising channel forming with help at $155 on the hourly chart of the SOL/USD pair.
On the upside, the worth is going through resistance close to the $158 degree. The following main resistance is close to the $160 degree. It’s near the 76.4% Fib retracement degree of the latest decline from the $162 swing excessive to the $155 low. The primary resistance might be $162.
A profitable shut above the $160 and $162 resistance ranges might set the tempo for one more regular enhance. The following key resistance is close to $175. Any extra good points may ship the worth towards the $180 degree.
Extra Downsides in SOL?
If SOL fails to rise above the $158 resistance, it might begin one other decline. Preliminary help on the draw back is close to the $155 degree. The primary main help is close to the $154 degree.
A break under the $154 degree may ship the worth towards the $149 zone. If there’s a shut under the $149 help, the worth might decline towards the $142 help within the close to time period.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is shedding tempo within the bullish zone.
Hourly Hours RSI (Relative Energy Index) – The RSI for SOL/USD is under the 50 degree.
Main Assist Ranges – $155 and $149.
Main Resistance Ranges – $158 and $162.
