The 4-hour chart of Solana shows a pivot point at 171.79, which is important for Solana price movement in the short term. The nearest resistance is at 176.66, followed by 1,183.26 and 1,188.53.
On the downside, the nearest support is at $165.72, followed by subsequent support levels at 156.75 and 1,151.08. The Relative Strength Index (RSI) is at 73, indicating that the stock is overbought.
The 50-day exponential moving average (EMA) is at 155.79, supporting the overall uptrend.
The uptrend channel is supporting the current bullish trend, but there is resistance around the 175 mark. A trend line through this level indicates a potential barrier to further price gains.
On the other hand, the nearest pivot point at 171.79 is important and serves as immediate support. If #Solana holds above this point, it could support further upward momentum.
However, below 171.79, there could be a sharp sell trend that would push the price towards the next support levels of 165.72, 1,156.75 and 1,151.08. The market reaction to these major levels is important in determining the immediate direction of price movement on Solana.
In conclusion, the technical outlook for Solana remains optimistic as long as the price remains above the 171.79 control level. The nearest resistance at 176.66 will be the first hurdle to overcome, followed by 183.26 and 1,188.53.
The high Rsi index indicates caution as overbought conditions could lead to a pullback. The 50-day EMA at 1,155.79 provides a solid base for the uptrend to continue.
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This adorable Navy SEAL is completely engrossed in the Degen market, relentlessly scouting out the next big coin - the Solana #meme . His relentless search keeps him busy, and his living room is a delightful mess.
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