đđđ #SolanaPrice (SOL) Gears Up for Fresh Surge: Is More Upside Ahead?
Solana Holds $140 Support, Eyes Break Above $152 Resistance
Solana (SOL) is maintaining its position above the $140 support zone and showing signs of a potential surge. The price is gaining momentum and may target a breakout above the $152 resistance.
- $SOL price rebounded from the $142 support zone against the US Dollar.
- Currently trading around $146 and the 100-hour simple moving average.
- A bearish trend line with resistance at $148 is forming on the hourly chart (Kraken data).
- The pair could gain bullish momentum if it clears the $152 resistance.
Solana Price Targets a Fresh Increase
Solana's price saw a strong rise above the $142 resistance level, similar to #bitcoinâïž and Ethereum. SOL briefly spiked above $150, reaching a high of $152 before facing some selling pressure, causing a minor pullback.
The price slipped below $148 and $145, breaking the 23.6% Fib retracement level from the $127 low to the $152 high. However, strong support at $142 helped stabilize the decline.
SOL is now trading near $146, staying above the 50% Fib retracement level of the $127 to $152 upward move and hovering around the 100-hour simple moving average.
The $148 resistance remains a challenge, with the next key level at $152. A close above $150-$152 could spark a rally targeting $164, with potential gains up to $172.
Potential Downside for SOL
If Solana fails to break through the $148 resistance, another downward move could follow. Initial support is near $144, with major support around $142.
A break below the $142 level might push SOL toward the $134 zone. If the price closes below $134, it could further drop to the $128 support area.
Technical Indicators
- Hourly MACD: Gaining strength in the bullish zone.
- Hourly RSI: Above the 50 mark, indicating positive momentum.
- Key Support Levels: $142, $134.
- Key Resistance Levels: $148, $152.
Source - newsbtc.com
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