Solana is holding beneficial properties above the $150 resistance zone. SOL value is consolidating and would possibly goal for a recent improve above the $162 resistance zone.
SOL value began a recent improve above the $155 zone in opposition to 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 may begin one other improve if it stays above the $155 help zone.
Solana Value Regains Traction
Solana value prolonged its improve 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 value began a draw back correction.
There was a transfer beneath the $160 and $158 ranges. Nonetheless, the bulls had been lively close to the $155 help zone. A low is fashioned at $155 and the value is now consolidating losses beneath the 23.6% Fib retracement stage 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 may be additionally a key rising channel forming with help at $155 on the hourly chart of the SOL/USD pair.
On the upside, the value is dealing with resistance close to the $158 stage. The following main resistance is close to the $160 stage. It’s near the 76.4% Fib retracement stage of the latest decline from the $162 swing excessive to the $155 low. The principle resistance could possibly be $162.
A profitable shut above the $160 and $162 resistance ranges may set the tempo for one more regular improve. The following key resistance is close to $175. Any extra beneficial properties would possibly ship the value towards the $180 stage.
Extra Downsides in SOL?
If SOL fails to rise above the $158 resistance, it may begin one other decline. Preliminary help on the draw back is close to the $155 stage. The primary main help is close to the $154 stage.
A break beneath the $154 stage would possibly ship the value towards the $149 zone. If there’s a shut beneath the $149 help, the value may decline towards the $142 help within the close to time period.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is dropping tempo within the bullish zone.
Hourly Hours RSI (Relative Power Index) – The RSI for SOL/USD is beneath the 50 stage.
Main Assist Ranges – $155 and $149.
Main Resistance Ranges – $158 and $162.
