Can Solana Break the Golden Ratio Resistance at $170?
Solana (SOL) is nearing the golden ratio resistance at $170, with the potential to retest its ATH of $260 if breached.
Bullish signals include MACD histogram uptrend on monthly chart and strong support against BTC at 0.382 Fib level.
However, bearish indicators such as potential rejection at $170 and bearish MACD on daily chart suggest mixed signals
Solana is nearing the golden ratio resistance at approximately $170, with only about a 10.6% gap to bridge. A breakthrough at this crucial level could begin a new bullish cycle for Solana, potentially leading it to retest its all-time high (ATH) of around $260.
Additionally, the Moving Average Convergence Divergence (MACD) histogram indicates an upward trend on the monthly chart, with the MACD lines in a bullish cross and the Relative Strength Index (RSI) in overbought territory. Notably, there are no signs of bearish divergence or other bearish signals at this time.