SOL Reclaims $150: Is The Rally Back?

Solana surpassed $140 resistance. If SOL breaks $155 barrier, it may continue soaring.

SOL is trying to break $142 and rise against the US Dollar.

The price is above $148 and the 100-hourly SMA.

On the hourly SOL/USD chart, a positive trend line with support around $147.50 is formed.

The pair may rise if it breaks $155 resistance.

Solana Price Gains
Solana rose beyond $138 and $140. After Bitcoin and Ethereum closed over $145 resistance, SOL gathered momentum. Bulls finally broke $150.

Price is holding gains after hitting $153.22 high. A small decline occurred below $152. The price challenged the 23.6% Fib retracement level of the $144.40 swing low to $153.22 high rise.

Above $145 and the 100-hourly simple moving average, Solana trades. On the hourly SOL/USD chart, a positive trend line with support around $147.50 is formed.

The price faces upward resistance at $153.50. Near $155 is the next significant resistance. The major obstacle may be $158.

A closure above $155 and $158 resistance levels might start another steady rise. Around $162 is the next resistance. More increases might push the price toward $175.

SOL Decline Again?
SOL may fall again if it fails to break $155 resistance. The downside has initial support at $150. Major support begins at $147.50 or the trend line. It approaches the 61.8% Fib retracement level of the $144.40 swing low to $153.22 high upward rise.

A breach below $147.50 might take prices to $144.50. If the price closes below $144.50, it may fall to $138.

Tech Indicators

SOL/USD hourly MACD is rising in the positive zone.

Hourly RSI – RSI for SOL/USD is over 50.

Major Support Levels: $147.50, $144.40.

Major Resistance: $155, $162.

#Solana #Sol $SOL