Solana (SOL) can gain momentum again: is a new rally in the pipeline?

Credit : www.newsbtc.com

Solana examined the USD 135 assist and just lately corrected losses. SOL value is rising and will achieve bullish momentum if the USD 144 resistance is cleared.

• The SOL value is trying a brand new improve from the $135 zone in opposition to the US greenback.
• The worth is now buying and selling under $145 and the 100-hour shifting common.
• There was a break above a key bearish trendline with resistance at $139 on the hourly chart of the SOL/USD pair (Kraken information supply).
• The pair might achieve bullish momentum if it breaks the $145 resistance zone.

Solana Value goals increased

Solana value climbed above the USD 146 and USD 148 ranges earlier than the bears appeared. SOL traded as excessive as $152 and just lately noticed one other decline, as did Bitcoin and Ethereum.

The worth fell under the USD 145 and USD 140 assist ranges. A low was fashioned at $135.39 and the value is now rising. There was an honest transfer above the USD 140 degree. The worth climbed above the 23.6% Fib retracement degree of the downward transfer from the $152 swing excessive to the $135.39 low.

There was a break above a key bearish trendline with resistance at $139 on the hourly chart of the SOL/USD pair. Solana is now buying and selling under $145 and the 100-hour shifting common.

On the upside, the value is dealing with resistance across the $144 degree. It’s near the 50% Fib retracement degree of the downward transfer from the $152 swing excessive to the $135.39 low. The subsequent main resistance is across the $146 degree. The important thing resistance may very well be at $150.

A profitable shut above the USD 150 and USD 152 resistance ranges might set the tempo for one more regular rise. The subsequent main resistance is close to $162. Any additional positive aspects might ship the value in the direction of the USD 175 degree.

One other drop within the SOL?

If SOL fails to rise above the USD 144 resistance, it might set off one other decline. The preliminary draw back assist is close to the $138 degree. The primary main assist is close to the $134 degree.

A break under the $135 degree might ship the value in the direction of the $132 zone. If there’s a shut under the USD 132 assist, the value might fall in the direction of the USD 120 assist within the close to time period.

Technical indicators

Hourly MACD – The MACD for SOL/USD is gaining velocity within the bullish zone.

Hourly RSI (Relative Power Index) – The RSI for SOL/USD is above the 50 degree.

Main assist ranges – USD 138 and USD 135.

Main resistance ranges – $144 and $150.