Solana began a recent improve above the $140 zone. SOL worth is now consolidating above $140 and may intention for extra positive factors above the $145 zone.
SOL worth began a recent upward transfer above the $140 and $142 ranges in opposition to the US Greenback.
The value is now buying and selling above $140 and the 100-hourly easy shifting common.
There’s a bullish development line forming with help at $138 on the hourly chart of the SOL/USD pair (information supply from Kraken).
The pair might lengthen positive factors if it clears the $145 resistance zone.
Solana Worth Outperforms Bitcoin
Solana worth began a good improve after it settled above the $132 zone, outperforming Bitcoin and Ethereum. SOL climbed above the $138 stage to enter a short-term constructive zone.
The value even smashed the $140 resistance. The bulls have been capable of push the worth above $142. A excessive was shaped at $144, and the worth is now consolidating positive factors above the 23.6% Fib retracement stage of the latest upward transfer from the $135 swing low to the $144 excessive.
Solana is now buying and selling above $142 and the 100-hourly easy shifting common. In addition to, there’s a bullish development line forming with help at $138 on the hourly chart of the SOL/USD pair.
On the upside, the worth is dealing with resistance close to $144. The following main resistance is close to the $145 stage. The principle resistance may very well be $150. A profitable shut above the $150 resistance zone might set the tempo for one more regular improve. The following key resistance is $162. Any extra positive factors may ship the worth towards the $170 stage.
Draw back Correction In SOL?
If SOL fails to rise above the $145 resistance, it might begin one other decline. Preliminary help on the draw back is close to the $142 zone. The primary main help is close to the $140 stage or the 50% Fib retracement stage of the latest upward transfer from the $135 swing low to the $144 excessive.
A break under the $140 stage may ship the worth towards the $138 help zone and the development line. If there’s a shut under the $138 help, the worth might decline towards the $132 help within the close to time period.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining tempo within the bullish zone.
Hourly Hours RSI (Relative Energy Index) – The RSI for SOL/USD is above the 50 stage.
Main Help Ranges – $140 and $138.
Main Resistance Ranges – $145 and $150.
