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<p><strong>Solana (SOL) has surged nearly 15% and could continue climbing if it surpasses the $165 resistance level. The cryptocurrency began a new upward trend after breaking through the $150 resistance.</strong></p><h2 id="header-0">Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On <a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow">www.ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/05/Chika-Moji-Airdrop.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p><strong>Brief:</strong> Solana (SOL) price rebounded and tested the $162 resistance against the US Dollar. Currently trading above $150 and the 100-hourly simple moving average, the SOL/USD pair witnessed a breakout above a significant bearish trend line with resistance at $148 on its hourly chart from Kraken. The pair’s potential to surpass the $165 resistance hinges on maintaining levels above $158.</p><h3 id="solana-sol-price-analysis-and-outlook">Solana (SOL) Price Analysis and Outlook</h3><p>Solana (SOL) price found support around $138 and initiated a fresh uptrend, surpassing both Bitcoin and Ethereum to enter a positive zone above $150.</p><p>On the hourly chart of the SOL/USD pair, there was a significant breakout above a bearish trend line resistance at $148. The price cleared hurdles at $155 and surged above $162, reaching a new weekly high at $163.76 before consolidating.</p><p>Currently, SOL is holding above $160 and the 100 simple moving average (4 hours), supported by the 23.6% Fibonacci retracement level of the upward move from $141 to $164.</p><h2 id="header-1">Get Instant 100,000 CHIKA Tokens Airdrop Worth Of $100 USD Free On <a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow">www.ChikaMoji.lol</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/05/Chika-Moji-Airdrop-1.png?fit&#61;1920%2C1080&amp;ssl&#61;1" /></p><p>Immediate resistance lies near the $165 level, with the next major hurdle at $172. A successful close above $172 could pave the way for further gains, targeting resistance levels near $180 and potentially pushing towards $188.</p><h3 id="solana-sol-price-support-and-resistance-levels">Solana (SOL) Price Support and Resistance Levels</h3><p>If Solana (SOL) fails to surpass the $160 resistance, a downside correction could ensue. Initial support is anticipated near the $158 level, followed by more significant support around $152.</p><p>The $152 level coincides with the 50% Fibonacci retracement level of the recent upward move from $141 to $164. Further downside, if the price breaks below $150, could test the $138 support level in the near term.</p><h3 id="strong-technical-indicators-strong"><strong>Technical Indicators</strong></h3><ul><li><strong>Hourly MACD:</strong> The MACD for SOL/USD is showing bullish momentum.</li><li><strong>Hourly RSI (Relative Strength Index):</strong> The RSI for SOL/USD is currently above the 50 level, indicating positive momentum.</li><li><strong>Key Support Levels:</strong> $158, $152</li><li><strong>Key Resistance Levels:</strong> $165, $172, $180</li></ul><p><a href="https://cryptosheadlines.com/jupiter-solanas-decentralized-exchange-reveals-system-updates/" rel="noopener noreferrer nofollow">Also Read:   Jupiter; Solana&#39;s Decentralized Exchange; Reveals System Updates</a></p><p>These levels will be crucial to watch as they could determine the next directional move for Solana’s price in the near future.</p><p><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</p>

Solana (SOL) Price Jumps 15%: Crypto Market Gains Momentum

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