Solana

Bitcoin

Resistance

Solana started a steady increase above the $135 zone. SOL price broke the $150 resistance and is now consolidating gains. 
<ul> 
 <li>SOL price started a decent upward move above the $135 resistance against the US Dollar.</li> 
 <li>The price is now trading above $145 and the 100-hourly simple moving average.</li> 
 <li>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).</li> 
 <li>The pair could correct lower, but the bulls might remain active near $147 or $143.</li> 
</ul> 
<h2 id="solana-price-jumps-over-5">Solana Price Jumps Over 5%</h2> 
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 <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-breaks-62k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-leaps-5-crosses-3300/" target="_blank" rel="noopener ">Ethereum</a>. 
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. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1cf22c.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-629764 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1cf22c.png?resize=1024%2C461" alt="Solana Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1cf22c.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1cf22c.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1cf22c.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1cf22c.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1cf22c.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1cf22c.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_1cf22c.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
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. 
<h2 id="are-dips-limited-in-sol">Are Dips Limited in SOL?</h2> 
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.

Solana Price (SOL) Hits $150: Market Dips Look Tempting

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Andere artikelen gepubliceerd op 15 jul 2024

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