Solana (SOL) Reclaims 132 Level, Momentum Turns | Crypto News
Solana began a recent increase above the $130 zone. SOL price is now consolidating above $132 and may intention for more positive factors above the $138 zone.
- SOL price began a recent upward transfer above the $130 and $132 ranges against the US Dollar.
- The price is now trading above $132 and the 100-hourly simple shifting average.
- There is a bullish pattern line forming with assist at $135 on the hourly chart of the SOL/USD pair (data source from Kraken).
- The pair might lengthen positive factors if it clears the $140 resistance zone.
Solana Price Gains Momentum
Solana price began a first rate increase after it settled above the $125 zone, like Bitcoin and Ethereum. SOL climbed above the $130 stage to enter a short-term optimistic zone.
The price even smashed the $132 resistance. The bulls have been in a position to push the price above $135. The price is now consolidating positive factors above the 23.6% Fib retracement stage of the current upward transfer from the $123 swing low to the $138 high.
Solana is now trading above $135 and the 100-hourly simple shifting average. Besides, there’s a bullish pattern line forming with assist at $135 on the hourly chart of the SOL/USD pair.
On the upside, the price is dealing with resistance close to $138. The next major resistance is close to the $140 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 factors may ship the price toward the $155 stage.
Another Decline In SOL?
If SOL fails to rise above the $185 resistance, it might start another decline. Initial assist on the draw back is close to the $134 zone and the pattern line. The first major assist is close to the $130 stage and the 50% Fib retracement stage of the current upward transfer from the $123 swing low to the $138 high.
A break below the $130 stage may ship the price toward the $128 assist zone. If there’s a close below the $128 assist, the price might decline toward the $120 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 – $135 and $130.
Major Resistance Levels – $138 and $140.
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