Solana (SOL) Over $150 — Extra Upside on The Horizon?

Solana began a contemporary enhance from the $140 help zone. SOL worth is now consolidating and may climb additional above the $154 resistance zone.

• SOL worth began a contemporary enhance above the $142 and $145 ranges towards the US Greenback.
• The value is now buying and selling above $150 and the 100-hourly easy shifting common.
• There was a break above a key bearish development line with resistance at $149 on the hourly chart of the SOL/USD pair (knowledge supply from Kraken).
• The pair may begin a contemporary enhance if it clears the $154 resistance zone.

Solana Worth Consolidates Features

Solana worth shaped a base above the $140 help and began a contemporary enhance, like Bitcoin and Ethereum. SOL gained tempo for a transfer above the $142 and $145 resistance ranges.

There was a break above a key bearish development line with resistance at $149 on the hourly chart of the SOL/USD pair. The pair even spiked above the $150 resistance zone. A excessive was shaped at $153.90 and the worth is now consolidating good points.

The value dipped under $152 and examined the 23.6% Fib retracement stage of the upward transfer from the $140 swing low to the $154 excessive. Solana is now buying and selling above $150 and the 100-hourly easy shifting common.

On the upside, the worth is going through resistance close to the $152 stage. The following main resistance is close to the $154 stage. The primary resistance might be $158. A profitable shut above the $158 resistance zone may set the tempo for an additional regular enhance. The following key resistance is $165. Any extra good points may ship the worth towards the $180 stage.

Draw back Correction in SOL?

If SOL fails to rise above the $154 resistance, it may begin one other decline. Preliminary help on the draw back is close to the $150 zone. The primary main help is close to the $147 stage.

A break under the $147 stage may ship the worth towards the $145 zone and the 50% Fib retracement stage of the upward transfer from the $140 swing low to the $154 excessive. If there’s a shut under the $145 help, the worth may decline towards the $140 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 Power Index) – The RSI for SOL/USD is above the 50 stage.

Main Assist Ranges – $147 and $145.

Main Resistance Ranges – $154 and $158.