Solana started a new growth from the $120 support zone. Now, Sol prices are consolidating and may climb further to the $142 resistance zone.
- The new value of Sol Price is above the $125 and $132 levels.
- The price is now over $130, while the 100-hour simple moving average.
- On the hourly chart of the SOL/USD pair, there is a connected bullish trend line forming, supporting $137 (data source from Kraken).
- If the couple clears the $142 resistance zone, a new addition can be started.
Solana prices rise by more than 5%
Solana Price formed the foundation on top of $120 support and started new growth, such as Bitcoin and Ethereum. Sol’s pace exceeded the resistance levels of $125 and $132.
The two even soared towards the $145 resistance zone. The high price was established at $143.06, and the price is now falling. From the $135 swing low to the $143 height, the 23.6% FIB retracement level moving upward is below the 23.6% movement.
Solana is now trading at over $130, a simple moving average of 100 hours. On the hourly chart of the SOL/USD pair, there is also a connected bullish trend line forming, supporting $137. The trend line approaches a 76.4% FIB retracement level moving from the swing low of $135 to the height of $143.
On the plus side, the price is facing a resistance level of $142. The next major resistor is close to the $145 level. The main resistance could be $150. The successful shutdown of the resistor zone over $150 can set the pace for another steady growth. The next key resistance is $155. More gains may shift the price to the $165 level.
Callback in SOL?
If the SOL cannot exceed the $142 resistance, it may drop again. The initial support for the disadvantage is around the $138.50 area. The first major supports close to the $137 level and trend line.
Rests below $137 may send prices to the $132 area. If it is close to the $132 support, the price may drop to $125 support in the short term.
Technical Indicators
Hourly MACD – SOL/USD’s MACD is accelerating in bullish areas.
Hours and hours RSI (relative intensity index) – The RSI of SOL/USD is above level 50.
Main support levels – $137 and $132.
Major resistance levels – $142 and $145.
