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 â RSI for SOL/USD is over 50.
Major Support Levels: $147.50, $144.40.
Major Resistance: $155, $162.
