Solana

Bitcoin

Resistance

Solana started a fresh increase from the $165 zone. SOL price is showing signs of strength and might climb further above the $182.50 resistance. 
<ul> 
 <li>SOL price started a decent upward move from the $165 support against the US Dollar.</li> 
 <li>The price is now trading near $175 and the 100-hourly simple moving average.</li> 
 <li>There was a break above a connecting bearish trend line with resistance at $170 on the hourly chart of the SOL/USD pair (data source from Kraken).</li> 
 <li>The pair could aim for more upsides if it clears the $182.50 resistance level.</li> 
</ul> 
<h2 id="solana-price-remains-in-positive-zone-above-165">Solana Price Remains In Positive Zone Above $165</h2> 
Solana price started a downside correction from $152.50 like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-recovers-65k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-targets-recovery-3350/" target="_blank" rel="noopener ">Ethereum</a>. It traded below the $175 and $172 support levels. There was a drop below the $170 level. 
Finally, it tested the $165 support. A low is formed at $165.12 and the price is again rising. There was a break above the $170 and $172 resistance levels. The price surpassed the 50% Fib retracement level of the downward move from the $182.51 swing high to the $165.12 low. 
Besides, there was a break above a connecting bearish trend line with resistance at $170 on the hourly chart of the SOL/USD pair. Solana is now trading near the $175 level. It seems to be struggling near the 61.8% Fib retracement level of the downward move from the $182.51 swing high to the $165.12 low. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1ba3fc.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-631668 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1ba3fc.png?resize=1024%2C461" alt="Solana Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1ba3fc.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1ba3fc.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1ba3fc.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1ba3fc.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1ba3fc.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1ba3fc.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1ba3fc.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
On the upside, the price is facing resistance near the $175 level. The next major resistance is near the $182.50 level. A successful close above the $182.50 resistance could set the pace for another steady increase. The next key resistance is near $192. Any more gains might send the price toward the $200 level. 
<h2 id="are-dips-limited-in-sol">Are Dips Limited in SOL?</h2> 
If SOL fails to rise above the $182.50 resistance, it could start another decline. Initial support on the downside is near the $172 level. The first major support is near the $170 level. 
A break below the $170 level might send the price toward $165. If there is a close below the $165 support, the price could decline toward the $155 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 – $172 and $170. 
Major Resistance Levels – $175 and $182.50.

Solana Price (SOL) Targets New Monthly High: Bulls in Control

Table of Contents

NewsBTC

Andre artikler udgivet 26. jul. 2024

DAO Maker (DAO) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Binance Completes Render Token Swap and Rebranding

Hamilton Lane With $900B AUM Unveils SCOPE Fund on Solana

SBI Holdings Partners with Franklin Templeton to Launch Bitcoin ETF in Japan

MEET48 “2024 GIPR2” Voting Event Final Results on August 3rd, Ranking Top on DappBay and DappRadar

Mt. Gox Users Report Surge in Unauthorized Login Attempts

Join our free newsletter for daily crypto updates!