Solana began a recent enhance from the $142 help zone. SOL value is now consolidating and would possibly climb additional above the $155 resistance zone.
SOL value began a recent enhance above the $140 and $142 ranges in opposition to the US Greenback.
The worth is now buying and selling above $145 and the 100-hourly easy shifting common.
There’s a short-term contracting triangle forming with resistance at $152 on the hourly chart of the SOL/USD pair (information supply from Kraken).
The pair may begin a recent enhance if it clears the $155 resistance zone.
Solana Worth Consolidates Beneficial properties
Solana value fashioned a base above the $135 help and began a recent enhance, like Bitcoin and Ethereum. SOL gained tempo for a transfer above the $140 and $142 resistance ranges.
The pair even spiked towards the $155 resistance zone. A excessive was fashioned at $153.30 earlier than there was a pullback. The worth dipped beneath $150. A low was fashioned at $145 and the worth began a consolidation part above the 23.6% Fib retracement stage of the downward transfer from $153.30 swing excessive to the $145.54 low.
Solana is now buying and selling beneath $152 and the 100-hourly easy shifting common. There’s additionally a short-term contracting triangle forming with resistance at $152 on the hourly chart of the SOL/USD pair.
On the upside, the worth is going through resistance close to the $149.50 stage. The following main resistance is close to the $150 stage. The primary resistance may very well be $152 and the 76.4% Fib retracement stage of the downward transfer from $153.30 swing excessive to the $145.54 low.
A profitable shut above the $152 resistance zone may set the tempo for an additional regular enhance. The following key resistance is $155. Any extra good points would possibly ship the worth towards the $165 stage.
Draw back Correction in SOL?
If SOL fails to rise above the $150 resistance, it may begin one other decline. Preliminary help on the draw back is close to the $147 zone. The primary main help is close to the $145 stage.
A break beneath the $145 stage would possibly ship the worth towards the $138 zone. If there’s a shut beneath the $138 help, the worth may decline towards the $132 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 Power Index) – The RSI for SOL/USD is beneath the 50 stage.
Main Help Ranges – $147 and $145.
Main Resistance Ranges – $150 and $155.
