SOL Price Regains Strength, Can Solana Reclaim $150 and Continue Higher?

Solana began a contemporary enhance above the $142 resistance. SOL worth is up almost 8% and would possibly proceed to rise if it clears the $150 resistance.

SOL worth recovered larger and examined the $150 resistance towards the US Greenback.
The value is now buying and selling above $1452 and the 100 easy shifting common (4 hours).
There was a break above a key bearish development line with resistance at $144 on the 4-hour chart of the SOL/USD pair (information supply from Kraken).
The pair may clear the $150 resistance until it fails to remain above $146.

Solana Value Eyes Extra Upsides

Solana worth shaped a help base close to the $138 stage and began a contemporary enhance. SOL outperformed Bitcoin and Ethereum and moved right into a constructive zone above the $144 stage.

There was a break above a key bearish development line with resistance at $144 on the 4-hour chart of the SOL/USD pair. The pair even cleared the 50% Fib retracement stage of the downward wave from the $154.40 swing excessive to the $138.00 low.

Nevertheless, the bears are energetic close to the important thing hurdle at $150. Solana is now buying and selling above $145 and the 100 easy shifting common (4 hours). Speedy resistance is close to the $150 stage or the 76.4% Fib retracement stage of the downward wave from the $154.40 swing excessive to the $138.00 low.

The following main resistance is close to the $155 stage. A profitable shut above the $155 resistance may set the tempo for one more main enhance. The following key resistance is close to $162. Any extra features would possibly ship the value towards the $175 stage.

One other Decline in SOL?

If SOL fails to rally above the $150 resistance, it may begin one other decline. Preliminary help on the draw back is close to the $146 stage and the 100 easy shifting common (4 hours).

The primary main help is close to the $142 stage, beneath which the value may check $138. If there’s a shut beneath the $138 help, the value may decline towards the $125 help within the close to time period.

Technical Indicators

4-Hours MACD – The MACD for SOL/USD is gaining tempo within the bullish zone.

4-Hours RSI (Relative Power Index) – The RSI for SOL/USD is above the 50 stage.

Main Help Ranges – $146, and $142.

Main Resistance Ranges – $150, $155, and $162.