Solana Price (SOL) Poised for a Fresh Surge: Are There More Upsides Ahead?
Solana has held the $140 support area.
SOL price is rising and it could break the $152 resistance area.
Solana price extended its gains like Bitcoin and Ethereum and broke the $142 resistance level. SOL even surged above $150 before the bears emerged.
The price formed a high at $152 and started a downside correction.
The price declined below the $148 and $145 levels.
The price declined below the 23.6% Fibonacci retracement level of the upward move from the $127 swing low to $152 high. However, the bulls are active near the $142 support area.
The price settled above the upside 50% Fibonacci retracement level of the move from the $127 swing low to $152 high. Solana is currently trading near the $146 level and the 100 hourly simple moving average.
On the upside, the price is facing resistance near the $148 level. There is also a connecting bearish trend line forming with resistance at $148 on the hourly chart of the SOL/USD pair. The next major resistance is near the $152 level.
A successful close above the $150 and $152 resistance levels could set the stage for another steady increase. The next key resistance is near the $164 level. If the move continues upwards, the price could drop to the $172 level.
