Will Solana (SOL) Ignite a Comeback Rally? 🚀🔥🔥🔥🔥🔥🔥🔥🔥🔥🔥

👉Solana is finding solid ground around $160 and is gradually climbing, potentially gaining momentum if it can break the $172 barrier. 📈

➡️Price Analysis: SOL's price dropped to $160 against the US Dollar. 💸

➡️Current Status: The price is now over $165 and above the 100-hourly SMA. 📊

➡️Trend Shift: SOL/USD broke above a negative trend line with resistance at $164 on the hourly chart. 🕒

➡️Potential Breakout: If it stays over $165, the pair might break the $172 barrier. 💥

👉Solana Price May Rise 🌟

👉After establishing a support base at $160, Solana's price started to rebound. SOL has surpassed the $165 mark despite underperforming compared to Bitcoin and Ethereum. SOL/USD has broken above a negative trend line with resistance at $164 on the hourly chart. The price even surged above $170, hitting the 50% Fib retracement mark from the $181 high to the $160 low.

👉Currently, Solana's price stands above $165 and the 100-hour SMA, with immediate resistance near $170 and significant resistance around $171. A close above $172 could trigger another major rise. If this happens, the price might aim for $176, the 76.4% Fib retracement level, with potential advances pushing it toward $180. 🚀

👉Does SOL Support Dips? 🤔

If SOL fails to break the $172 barrier, it might face another drop. The initial support on the downside is at $167. A dip below $165 could lead to a test of $160, and if the price closes below this level, it may fall towards $150.

👉Technical Indicators 📉

-Hourly MACD: SOL/USD MACD is declining 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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