Solana Price (SOL) Gains Traction: Poised for Further Increase?
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Solana began an upward trend from the $110 zone, recovering above $135 and $140 levels against the US Dollar. The price is currently above $145 and the 100-hourly simple moving average. It broke a key bearish trend line at $136, indicating potential growth if the $155 resistance is surpassed. Solana price dropped below $165 and $150, hitting a low at $109 before rising. The price moved past 50% Fibonacci retracement levels and key resistance at $136. Now above $145, immediate resistance is at $155 and major resistance at $166. Surpassing $166 could pave the way for further gains, potentially reaching $195.
Conversely, failing to pass $155 could lead to another decline, with initial support at $140 and major support at $135. Breaking these might push the price toward $122 and potentially down to $110. Technical indicators like the hourly MACD show bullish momentum, and the RSI is above 50, suggesting bullish conditions. Major support levels are $140 and $135, while resistance levels are $155 and $166.
Source: www.newsbtc.com ↗
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