Solana started a new increase above $ 215 zone. Sol Price now consolidates above $ 212 and can strive for more profit above $ 220 zone.
- Sol Price started a new upward movement above $ 205 and $ 212 levels against the US dollar.
- The price is now traded above $ 212 and the 100-hour simple advancing average.
- There is a bullish trend line that forms with support for $ 216 on the hour table of the SOL/USD pair (data source of Kraken).
- The couple can increase profit if it knew the $ 220 resistance zone.
Solana Price Eyes Upside Break
Solana Price started a considerable increase after it had found support near the $ 202 zone, where Bitcoin and Ethereum were defeated. Sol climbed above the level of $ 208 to enter a positive zone in the short term.
The price even beat the $ 215 resistance. The bulls could push the prize above the barrier of $ 218. A high was formed at $ 220 and the price is the consolidation of profits above the 23.6% FIB retracement level of the upward movement of the $ 199 Swing Low to $ 220 High.
Solana is now traded above $ 212 and the 100-hour simple advancing average. There is also a bullish trend line that forms with support for $ 216 on the hour table of the SOL/USD pair.
Moreover, the price is confronted with resistance near the level of $ 220. The next major resistance is close to the $ 228 level. The most important resistance can be $ 232. A successful closure above the $ 232 resistance zone could determine the pace for a new steady increase. The next key resistance is $ 244. More profits can send the price to the $ 250 level.
Disadvantage correction in SOL?
If Sol does not exceed $ 220 resistance, this can start a new decline. The first support on the disadvantage is near the $ 216 zone and the trend line. The first major support is near the $ 210 level or the 50% FIB retracement level of the upward movement of the $ 199 Swing Low to $ 220 High.
A break below the $ 210 level can send the price to the $ 202 support zone. If there is an end under the support of $ 202, the price can fall to the support of $ 195 in the short term.
Technical indicators
Hourly MacD – The MacD for SOL/USD wins pace in the Bullish Zone.
Hours -hours RSI (relative strength -index) -The RSI for SOL/USD is above 50 level.
Important support levels – $ 216 and $ 210.
Important resistance levels – $ 220 and $ 232.