Solana started a new increase in the $ 195 zone. Sol Price is now recovering higher and can strive for a movement above the $ 205 resistance zone.
- Sol Price started a recovery wave after it had tested the $ 195 zone against the US dollar.
- The price is now traded under $ 205 and the 100-hour simple advancing average.
- There was a break above a connecting bearish trend line with resistance at $ 201 on the hour table of the SOL/USD pair (data source of Kraken).
- The couple can start a new increase if it knew the $ 205 resistance zone.
Solana Price Eyes Steady Recovery
Solana price extended losses after there was an end under $ 205, such as Bitcoin and Ethereum. Sol traded under the support levels of $ 200 and $ 195 to enter a short -term range zone.
A low point was formed at $ 194 and the price is now trying a new rise. The price exceeded the resistance levels of $ 198 and $ 200. There was a movement over the 23.6% FIB retracement level of the downward movement of the $ 218 Swing High to $ 194 Low.
Moreover, there was a break over a connecting bearish trend line with resistance at $ 201 on the hour table of the SOL/USD pair. Solana is now trading under $ 205 and the 100-hour simple advancing average.
In addition, the price is confronted with resistance near the $ 202 level. The next major resistance is close to the $ 205 level or the 50% FIB racement level of the downward movement of the $ 218 swing high to $ 194 low. The most important resistance can be $ 209. A successful closure above the $ 209 resistance zone could determine the pace for a new steady increase. The next key resistance is $ 218. More profits can send the price to the $ 225 level.
Another decline in Sol?
If Sol does not exceed $ 205 resistance, this can continue to move. The first support on the other hand is near the $ 200 zone. The first major support is near the level of $ 195.
A break below the level of $ 195 can send the price to the $ 188 support zone. If there is an end under the support of $ 188, the price can fall to the support of $ 184 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 – $ 200 and $ 195.
Important resistance levels – $ 205 and $ 209.