Solana started a recovery wave above the $ 132 resistance zone. Sol Price is now consolidating and may have trouble recovering over the $ 150 resistance.
- Sol Price started a recovery wave of the $ 125 support zone against the US dollar.
- The price is now traded above $ 130 and the 100-hour simple advancing average.
- There is a connecting bullish trend line that forms with support for $ 134 on the hour table of the SOL/USD pair (data source of Kraken).
- The couple could start a new increase if the bulls erase the $ 142 zone.
Solana Price Facies Resistance
Solana Price started a recovery wave from the $ 125 zone, such as Bitcoin and Ethereum. Sol was able to climb above the resistance levels of $ 132 and $ 140.
The price even erased the level of $ 142, but it was confronted with resistance near $ 145. A high was formed at $ 145 and the price started a downward correction. There was a movement below the $ 142 level. The price dropped below the 23.6% FIB retracement level of the upward movement of the $ 125 swing low to $ 145 high.
Solana is now traded above $ 130 and the 100-hour simple advancing average. There is also a connecting bullish trend line that forms with support for $ 134 on the hour table of the SOL/USD pair.
Moreover, the price is confronted with resistance near the level of $ 140. The next major resistance is close to the $ 142 level. The most important resistance can be $ 145. A successful closure above the $ 145 resistance zone could determine the pace for a new steady increase. The next key resistance is $ 150. More profits can send the price to the $ 162 level.
Another decline in Sol?
If Sol does not rise above $ 142’s resistance, this can start a new decline. The first support for the disadvantage is near the $ 135 zone and the 50% FIB retracement level of the upward movement of the $ 125 swing low to $ 145 high. The first major support is near the level of $ 133.
A break below the level of $ 133 can send the price to the $ 125 zone. If there is an end under the support of $ 125, the price can fall to $ 114 support in the short term.
Technical indicators
Hourly MacD – The MACD for SOL/USD loses pace in the bullish zone.
Hours -hours RSI (relative strength -index) -The RSI for SOL/USD is below the 50 level.
Important support levels – $ 135 and $ 133.
Important resistance levels – $ 142 and $ 145.