Solana Bulls in Control: Key Levels to Watch on the 4-Hour Chart

In the latest technical analysis of the #Solana price on the 4-hour chart, closing prices have exhibited a steady pattern, with the latest close at $162.83. The 9 Exponential Moving Average (EMA) stands at $159.57, while the 20 EMA is at $155.14, indicating a bullish crossover as the shorter-term EMA is above the longer-term EMA. This crossover is typically a bullish signal, suggesting upward momentum.

Moving Average Convergence Divergence (MACD) values show a positive trajectory, with the MACD line currently at 5.07, above the signal line at 4.66. This positive histogram reinforces the bullish sentiment, signaling potential further upward movement. Meanwhile, the Relative Strength Index (RSI) is at 72.14, slightly overbought but still within a range that suggests sustained buying pressure.

The immediate resistance level to watch is at $163.73. A break above this level could open the door to test higher resistance levels at $166.93 and $167.45. On the downside, support is observed at $162.71. If this level fails to hold, the next significant support levels are at $157.78 and $157.62. $SOL #SOL #altcoins #TrendingInvestments
The full analysis and trade strategy were originally posted on www.ecoinimist.com.