🚀🚀🚀 #Solana ($SOL ) Eyes a Strong Comeback: Will the #Rally Ignite a Surge?
Solana (SOL) found support around $160 and is gradually climbing higher, potentially gaining bullish momentum upon surpassing the $172 resistance zone.
After correcting lower, SOL tested the $160 support against the US Dollar and is now trading above $165 and the 100-hourly simple moving average. A bullish trend line breakout occurred near $164, indicating positive momentum.
The immediate hurdle lies near $170, followed by significant resistance around $171. A successful breach above $172 could pave the way for further upside movement. The next major resistance is anticipated near $176, potentially leading to a push towards $180.
On the downside, if SOL struggles to rally above $172, it might face downward pressure. Initial support lies at $167, followed by $165 and $160. A close below $160 could trigger a decline towards $150.
Technical indicators show the hourly MACD losing pace in the bullish zone, while the hourly RSI is below the 50 level.
- Key Support Levels: $165, $160
- Key Resistance Levels: $170, $172, $180
Source - newsbtc.com
