Solana Price (SOL) Hits $150: Market Dips Look Tempting

Solana
Price
(SOL)
Hits
$150

Solana
started
a
steady
increase
above
the
$135
zone.
SOL
price
broke
the
$150
resistance
and
is
now
consolidating
gains.

• SOL
  price
  started
  a
  decent
  upward
  move
  above
  the
  $135
  resistance
  against
  the
  US
  Dollar.
• The
  price
  is
  now
  trading
  above
  $145
  and
  the
  100-hourly
  simple
  moving
  average.
• There
  is
  a
  connecting
  bullish
  trend
  line
  forming
  with
  support
  at
  $147
  on
  the
  hourly
  chart
  of
  the
  SOL/USD
  pair
  (data
  source
  from
  Kraken).
• The
  pair
  could
  correct
  lower,
  but
  the
  bulls
  might
  remain
  active
  near
  $147
  or
  $143.

Solana
Price
Jumps
Over
5%

Solana
price
managed
to
start
a
fresh
increase
above
the
$125
pivot
level.
SOL
gained
pace
for
a
move
above
the
$132
and
$135
resistance
levels,
like
Bitcoin
and
Ethereum.

The
price
even
cleared
the
$145
resistance
and
surpassed
the
$150
hurdle.
A
high
was
formed
at
$152.05
and
the
price
is
now
consolidating
gains.
It
is
trading
well
above
the
23.6%
Fib
retracement
level
of
the
upward
move
from
the
$134
swing
low
to
the
$152
high.

Solana
is
now
trading
above
the
$145
level
and
the
100-hourly
simple
moving
average.
There
is
also
a
connecting
bullish
trend
line
forming
with
support
at
$147
on
the
hourly
chart
of
the
SOL/USD
pair.

On
the
upside,
the
price
might
face
resistance
near
the
$152
level.
The
next
major
resistance
is
near
the
$155
level.
A
successful
close
above
the
$155
resistance
could
set
the
pace
for
another
steady
increase.
The
next
key
resistance
is
near
$165.
Any
more
gains
might
send
the
price
toward
the
$172
level.

Are
Dips
Limited
in
SOL?

If
SOL
fails
to
rise
above
the
$152
resistance,
it
could
start
a
downside
correction.
Initial
support
on
the
downside
is
near
the
$150
level.
The
first
major
support
is
near
the
$147
level
and
the
trend
line.

A
break
below
the
$147
level
might
send
the
price
toward
$143
or
the
50%
Fib
retracement
level
of
the
upward
move
from
the
$134
swing
low
to
the
$152
high.
If
there
is
a
close
below
the
$143
support,
the
price
could
decline
toward
the
$138
support
in
the
near
term.

Technical
Indicators

Hourly
MACD
–
The
MACD
for
SOL/USD
is
gaining
pace
in
the
bullish
zone.

Hourly
Hours
RSI
(Relative
Strength
Index)
–
The
RSI
for
SOL/USD
is
above
the
50
level.

Major
Support
Levels
–
$147
and
$143.

Major
Resistance
Levels
–
$152
and
$155.