Solana is gaining tempo above the $150 resistance zone. SOL worth is rising and would possibly purpose for a contemporary improve above the $158 resistance zone.
SOL worth began a contemporary improve above the $150 zone towards the US Greenback.
The value is now buying and selling above $152 and the 100-hourly easy transferring common.
There’s a key bullish development line forming with assist at $150 on the hourly chart of the SOL/USD pair (knowledge supply from Kraken).
The pair might once more acquire bullish momentum if it clears the $158 resistance zone.
Solana Value Eyes Extra Upsides
Solana worth prolonged its improve above the $150 resistance like Bitcoin and Ethereum. SOL even climbed above $155 earlier than the bears appeared. A excessive was fashioned at $1582 and the worth began a draw back correction.
There was a transfer beneath the $156 and $155 ranges. The value dipped beneath the 23.6% Fib retracement degree of the upward transfer from the $146 swing low to the $158 excessive. Nonetheless, the bulls have been lively close to the $154 assist zone.
Solana is now buying and selling above $152 and the 100-hourly easy transferring common. There’s additionally a key bullish development line forming with assist at $150 on the hourly chart of the SOL/USD pair. It’s near the 61.8% Fib retracement degree of the upward transfer from the $146 swing low to the $158 excessive.
On the upside, the worth is going through resistance close to the $158 degree. The subsequent main resistance is close to the $162 degree. A profitable shut above the $158 and $162 resistance ranges might set the tempo for one more regular improve. The subsequent key resistance is close to $174. Any extra beneficial properties would possibly 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 assist on the draw back is close to the $153 degree. The primary main assist is close to the $150 degree.
A break beneath the $150 degree would possibly ship the worth towards the $145 zone. If there’s a shut beneath the $145 assist, the worth might decline towards the $138 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 Energy Index) – The RSI for SOL/USD is above the 50 degree.
Main Help Ranges – $153 and $150.
Main Resistance Ranges – $158 and $162.
