Will Solana (SOL) Ignite a Comeback Rally? 🚀
Around $160, Solana found support and is gently climbing, potentially gathering momentum if it breaks the $172 barrier. 📈
- SOL price fell and touched $160 vs the US Dollar. 💸
- The price is now over $165 and the 100-hourly SMA. 📊
- SOL/USD broke above a negative trend line with resistance at $164 on the hourly chart. 🕒
- If it stays over $165, the pair might break the $172 barrier. 💥
Solana Price May Rise 🌟
After forming a support base at $160, Solana's price began to rebound. SOL broke the $165 barrier while underperforming Bitcoin and Ethereum. SOL/USD broke above a negative trend line with resistance at $164 on the hourly chart. There was even a burst over $170, the 50% Fib retracement mark of the decline from the $181 swing high to the $160 low.
Solana's price is above $165 and the 100-hour SMA. Immediate resistance is near $170. The next significant resistance is near $171. A closing above $172 might trigger another significant rise. At $176, the 76.4% Fib retracement level of the decline from the $181 swing high to the $160 low, resistance is next. More advances might push the price toward $180. 🚀
Does SOL Support Dips? 🤔
SOL might fall again if it fails to break the $172 barrier. The downside has first support at $167. The price might test $160 below $165, the first significant support. If the price closes below $160, it may fall toward $150.
Tech Indicators 📉
- Hourly MACD - SOL/USD MACD is falling in the positive zone.
- Hourly RSI - RSI for SOL/USD is below 50.
Major Support Levels: $165, $160.
Key Resistance Levels: $170, $172, $180.
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