Solana (SOL) Picks Up Speed, Raising Talk of a New | Crypto News
Solana began a recent increase above the $136 zone. SOL price is now consolidating above $138 and would possibly intention for more positive aspects above the $142 zone.
- SOL price began a recent upward transfer above the $136 and $138 ranges against the US Dollar.
- The price is now trading above $138 and the 100-hourly simple shifting average.
- There was a break above a bearish development line with resistance at $137 on the hourly chart of the SOL/USD pair (data source from Kraken).
- The pair might prolong positive aspects if it clears the $142 resistance zone.
Solana Price Regains Traction
Solana price corrected positive aspects from the $144 zone but remained steady above the $130 zone, beating Bitcoin and Ethereum. SOL shaped a low close to $132 and began a recent upward transfer.
The price climbed above the $135 stage to enter a short-term constructive zone. It surpassed the 50% Fib retracement stage of the downward transfer from the $143 swing high to the $132 low. Besides, there was a break above a bearish development line with resistance at $137 on the hourly chart of the SOL/USD pair.
Solana is now trading above $138 and the 100-hourly simple shifting average. On the upside, the price is going through resistance close to $140 and the 76.4% Fib retracement stage of the downward transfer from the $143 swing high to the $132 low. The next major resistance is close to the $142 stage.
The main resistance may very well be $145. A profitable close above the $145 resistance zone might set the tempo for another regular increase. The next key resistance is $150. Any more positive aspects would possibly ship the price toward the $155 stage.
Another Decline In SOL?
If SOL fails to rise above the $140 resistance, it might start another decline. Initial assist on the draw back is close to the $138 zone. The first major assist is close to the $135 stage.
A break below the $135 stage would possibly ship the price toward the $132 assist zone. If there may be a close below the $132 assist, the price might decline toward the $124 assist in the close to time period.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining tempo in the bullish zone.
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 stage.
Major Support Levels – $138 and $135.
Major Resistance Levels – $140 and $142.
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