Cryptocurrency

Solana

Momentum

Giant

<a href="https://bitcoinworld.co.in/solana-sol-price-skyrockets-by-15-cryptocurrency-market-surges-with-sol-momentum/" title="Solana (SOL) Price Skyrockets By 15%: Cryptocurrency Market Surges With SOL Momentum" rel="nofollow"></a>
Solana (SOL) price skyrockets nearly 15% and might continue to rise if it clears the $165 resistance. Solana started a fresh increase above the $150 resistance. 
<ul> 
 <li style="font-weight: 400">SOL price recovered higher and tested the $162 resistance against the US Dollar.</li> 
 <li style="font-weight: 400">The price is now trading above $150 and the 100-hourly simple moving average.</li> 
 <li style="font-weight: 400">There was a break above a key bearish trend line with resistance at $148 on the hourly chart of the SOL/USD pair (data source from Kraken).</li> 
 <li style="font-weight: 400">The pair could clear the $165 resistance unless it fails to stay above $158.</li> 
</ul> 
<h3 id="span-style-font-weight-400-solana-price-starts-fresh-surge-span">Solana Price Starts Fresh Surge</h3> 
Solana <a href="https://coinstats.app/coins/solana/">price</a> formed a support base near the $138 level and started a fresh increase. SOL outperformed Bitcoin and Ethereum and moved into a positive zone above the $150 level. 
There was a break above a key bearish trend line with resistance at $148 on the hourly chart of the SOL/USD pair. The pair even $155 resistance and spiked above $162. A new weekly high was formed at $163.76, and the price is now consolidating gains. 
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It is holding the 23.6% Fib retracement level of the upward move from the $141 swing low to the $164 high. Solana is now trading above $160 and the 100 simple moving average (4 hours). 
Immediate resistance is near the $165 level. The next major resistance is near the $172 level. A successful close above the $172 resistance could set the pace for another major increase.&nbsp; 
<figure id="attachment_72801" aria-describedby="caption-attachment-72801" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-72801" src="https://bitcoinworld.co.in/wp-content/uploads/SOL-Price-Chart-17-483x300.png" alt="" width="589" height="366" srcset="https://bitcoinworld.co.in/wp-content/uploads/SOL-Price-Chart-17-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/SOL-Price-Chart-17.png 760w" sizes="(max-width: 589px) 100vw, 589px">
 <figcaption id="caption-attachment-72801" class="wp-caption-text">
 SOL Price Chart | Source: Coinstats
 </figcaption>
</figure> 
&nbsp; 
The next key resistance is near $180. Any more gains might send the price toward the $188 level. 
<h3 id="span-style-font-weight-400-are-dips-supported-in-sol-span">Are Dips Supported in SOL?</h3> 
If SOL fails to rally above the $160 resistance, it could start a downside correction. Initial support on the downside is near the $158 level. The first major support is near the $152 level. 
The 50% Fib retracement level of the upward move from the $141 swing low to the $164 high is also at $152, below which the price could test $150.&nbsp; 
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If there is a close below the $150 support, the price could decline toward the $138 support in the near term. 
<h3 id="span-style-font-weight-400-technical-indicators-span">Technical Indicators</h3> 
<ul> 
 <li style="font-weight: 400">Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.</li> 
 <li style="font-weight: 400">Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.</li> 
 <li style="font-weight: 400">Major Support Levels – $158, and $152.</li> 
 <li style="font-weight: 400">Major Resistance Levels – $165, $172, and $180.</li> 
</ul> 
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote> 
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The post <a href="https://bitcoinworld.co.in/solana-sol-price-skyrockets-by-15-cryptocurrency-market-surges-with-sol-momentum/">Solana (SOL) Price Skyrockets By 15%: Cryptocurrency Market Surges With SOL Momentum</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Solana (SOL) Price Skyrockets By 15%: Cryptocurrency Market Surges With SOL Momentum

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