Solana started another upward move from the $165 area. SOL price is showing signs of strength and it could move further above the $182.50 resistance level.
SOL price started a sharp increase from the $165 support against the US Dollar.
The price is currently trading close to the $175 level and the 100 hourly simple moving average.
There was a break above a connecting bearish trend line with resistance at $170 on the hourly chart of the SOL/USD pair.
The pair could rise further if it breaks above the $182.50 resistance.
Solana Price Remains in Positive Range Above $165
Solana price started a downside correction from $152.50 like bitcoin and Ethereum. The trading price broke the $175 and $172 support levels and briefly traded below $170.
Finally, Solana tested the $165 support level and a low was formed at $165.12. The price increased again after that. It broke the $170 and $172 resistance levels and surpassed the 50% Fibonacci retracement level of the downward move from the $182.51 high to $165.12 low.
Moreover, there was a break above a connecting bearish trend line with resistance at $170 on the hourly chart of the SOL/USD pair. Solana is currently trading near $175 and it seems to be struggling near the 61.8% Fibonacci retracement level of the downtrend from the $182.51 high to $165.12 low.
On the upside, Solana price is facing resistance near the $175 level. The next major resistance is near the $182.50 level. A successful breakout and close above $182.50 could set the stage for further gains with the next key resistance near the $192 level. If the price continues to move higher, a move towards $200 is possible.
Is there a limit on Dips in SOL?
If SOL fails to clear the $182.50 resistance, it could fall again. An initial support on the downside is near the $172 level. The first major support is near the $170 level.
A break below the $170 level could potentially drop the price to $165. If there is a close below the $165 support, the price could decline towards the $155 support in the near term.
Technical indicators
Hourly MACD: The MACD for SOL/USD is accelerating in the bullish zone.
Hourly RSI (Relative Strength Index): The RSI for SOL/USD is above the 50 level.
Major Support Levels: $172 and $170.
Major Resistance Levels: $175 and $182.50.
Solana started another upward move from the $165 area. SOL price is showing signs of strength and it could move further above the $182.50 resistance level.
SOL price started a sharp increase from the $165 support against the US Dollar.
The price is currently trading close to the $175 level and the 100 hourly simple moving average.
There was a break above a connecting bearish trend line with resistance at $170 on the hourly chart of the SOL/USD pair.
The pair could rise further if it breaks above the $182.50 resistance.
Solana Price Remains in Positive Range Above $165
Solana price started a downside correction from $152.50 like bitcoin and Ethereum. The trading price broke the $175 and $172 support levels and briefly traded below $170.
Finally, Solana tested the $165 support level and a low was formed at $165.12. The price increased again after that. It broke the $170 and $172 resistance levels and surpassed the 50% Fibonacci retracement level of the downward move from the $182.51 high to $165.12 low.
Moreover, there was a break above a connecting bearish trend line with resistance at $170 on the hourly chart of the SOL/USD pair. Solana is currently trading near $175 and it seems to be struggling near the 61.8% Fibonacci retracement level of the downtrend from the $182.51 high to $165.12 low.
On the upside, Solana price is facing resistance near the $175 level. The next major resistance is near the $182.50 level. A successful breakout and close above $182.50 could set the stage for further gains with the next key resistance near the $192 level. If the price continues to move higher, a move towards $200 is possible.
Is there a limit on Dips in SOL?
If SOL fails to clear the $182.50 resistance, it could fall again. An initial support on the downside is near the $172 level. The first major support is near the $170 level.
A break below the $170 level could potentially drop the price to $165. If there is a close below the $165 support, the price could decline towards the $155 support in the near term.
Technical indicators
Hourly MACD: The MACD for SOL/USD is accelerating in the bullish zone.
Hourly RSI (Relative Strength Index): The RSI for SOL/USD is above the 50 level.
Major Support Levels: $172 and $170.
Major Resistance Levels: $175 and $182.50.
