Solana Price (SOL) Hits $150: Market Dips Look Tempting
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.
Credit:
Source
link
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