Solana began a contemporary improve above the $188 zone. SOL value is now consolidating above $200 and would possibly intention for extra positive aspects above the $208 zone.
- SOL value began a contemporary upward transfer above the $185 and $188 ranges in opposition to the US Greenback.
- The worth is now buying and selling above $200 and the 100-hourly easy shifting common.
- There’s a bullish development line forming with help at $199 on the hourly chart of the SOL/USD pair (knowledge supply from Kraken).
- The pair might lengthen positive aspects if it clears the $208 resistance zone.
Solana Worth Jumps Additional Above $200
Solana value began an honest improve after it settled above the $172 zone, beating Bitcoin and Ethereum. SOL climbed above the $180 stage to enter a short-term optimistic zone.
The worth even smashed the $188 resistance. The bulls had been in a position to push the worth above the 61.8% Fib retracement stage of the principle drop from the $225 swing excessive to the $155 low. Apart from, there’s a bullish development line forming with help at $199 on the hourly chart of the SOL/USD pair.
Solana is now buying and selling above $202 and the 100-hourly easy shifting common. On the upside, the worth is dealing with resistance close to the $208 stage and the 76.4% Fib retracement stage of the principle drop from the $225 swing excessive to the $155 low. The following main resistance is close to the $218 stage.
The primary resistance could possibly be $225. A profitable shut above the $225 resistance zone might set the tempo for one more regular improve. The following key resistance is $242. Any extra positive aspects would possibly ship the worth towards the $250 stage.
One other Pullback In SOL?
If SOL fails to rise above the $208 resistance, it might begin one other decline. Preliminary help on the draw back is close to the $199 zone and the development line. The primary main help is close to the $195 stage.
A break under the $195 stage would possibly ship the worth towards the $190 help zone. If there’s a shut under the $190 help, the worth might decline towards the $180 help within the close to time period.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining tempo within the bullish zone.
Hourly Hours RSI (Relative Power Index) – The RSI for SOL/USD is above the 50 stage.
Main Help Ranges – $199 and $190.
Main Resistance Ranges – $208 and $218.
