Solana climbed increased above the $140 resistance zone. SOL worth is rising and may acquire bullish momentum if it clears the $155 resistance.
SOL worth is making an attempt a recent enhance above the $142 pivot stage towards the US Greenback.
The value is now buying and selling above $148 and the 100-hourly easy shifting common.
There’s a key bullish pattern line forming with assist at $147.50 on the hourly chart of the SOL/USD pair (information supply from Kraken).
The pair might acquire 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 a detailed above the $145 resistance stage, like Bitcoin and Ethereum. Lastly, the bulls pushed the value above the $150 stage.
A excessive was shaped at $153.22 and the value is now consolidating positive factors. There was a minor pullback beneath the $152 stage. The value examined the 23.6% Fib retracement stage 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 may be additionally a key bullish pattern line forming with assist at $147.50 on the hourly chart of the SOL/USD pair.
On the upside, the value is going through resistance close to the $153.50 stage. The subsequent main resistance is close to the $155 stage. The primary resistance might be $158.
A profitable shut above the $155 and $158 resistance ranges might set the tempo for an additional regular enhance. The subsequent key resistance is close to $162. Any extra positive factors may ship the value towards the $175 stage.
One other Decline in SOL?
If SOL fails to rise above the $155 resistance, it might begin one other decline. Preliminary assist on the draw back is close to the $150 stage. The primary main assist is close to the $147.50 stage or the pattern line. It’s near the 61.8% Fib retracement stage of the upward transfer from the $144.40 swing low to the $153.22 excessive.
A break beneath the $147.50 stage may ship the value towards the $144.50 zone. If there’s a shut beneath the $144.50 assist, the value 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 Power Index) – The RSI for SOL/USD is above the 50 stage.
Main Assist Ranges – $147.50 and $144.40.
Main Resistance Ranges – $155 and $162.
