Solana began a good enhance above the $188 resistance. SOL worth is again above $200 and may battle to proceed increased above $205.
SOL worth began a recent enhance above the $185 and $188 ranges towards the US Greenback.
The value is now buying and selling above $195 and the 100-hourly easy shifting common.
There’s a connecting bullish development line forming with assist at $196 on the hourly chart of the SOL/USD pair (information supply from Kraken).
The pair might begin a recent enhance if the bulls clear the $205 zone.
Solana Worth Reclaims $200
Solana worth fashioned a base above $175 and began a good upward transfer, like Bitcoin and Ethereum. SOL was capable of climb above the $180 and $185 resistance ranges.
The bulls pushed it above the $188 resistance after which $200. A excessive was fashioned at $206 and the worth is now consolidating features close to the 23.6% Fib retracement stage of the upward transfer from the $186 swing excessive to the $206 low.
Solana is now buying and selling above $195 and the 100-hourly easy shifting common. There’s additionally a connecting bullish development line forming with assist at $196 on the hourly chart of the SOL/USD pair. On the upside, the worth is dealing with resistance close to the $205 stage.
The subsequent main resistance is close to the $212 stage. The primary resistance may very well be $220. A profitable shut above the $220 resistance zone might set the tempo for an additional regular enhance. The subsequent key resistance is $232. Any extra features may ship the worth towards the $245 stage.
One other Decline in SOL?
If SOL fails to rise above the $205 resistance, it might begin one other decline. Preliminary assist on the draw back is close to the $196 zone and the development line. The primary main assist is close to the $190 stage or the 76.4% Fib retracement stage of the upward transfer from the $186 swing excessive to the $206 low.
A break beneath the $190 stage may ship the worth towards the $185 zone. If there’s a shut beneath the $185 assist, the worth might decline towards the $172 assist within the close to time period.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is shedding tempo within the bullish zone.
Hourly Hours RSI (Relative Energy Index) – The RSI for SOL/USD is above the 50 stage.
Main Assist Ranges – $196 and $190.
Main Resistance Ranges – $205 and $212.
