Solana started a new increase above $ 188 zone. Sol Price now consolidates above $ 200 and can strive for more profit above $ 212 zone.
- Sol Price started a new upward movement above the levels of $ 192 and $ 202 against the US dollar.
- The price is now traded above $ 200 and the 100-hour simple advancing average.
- There is an increasing channel that forms with support for $ 205 on the hour table of the SOL/USD pair (data source of Kraken).
- The couple can increase profit if it knew the $ 212 resistance zone.
Solana Price strives for more profit
Solana Price started a considerable increase after it had found support near the $ 188 zone, in contrast to Bitcoin and like Ethereum. Sol climbed above the level of $ 195 to enter a positive zone in the short term.
The price even beat the $ 202 resistance. The bulls could push the prize above the barrier of $ 208. A high was formed at $ 213 and the price is the consolidating profits above the 23.6% FIB retracement level of the upward movement of the $ 177 Swing low to $ 213 high.
Solana is now traded above $ 200 and the 100-hour simple advancing average. There is also a rising channel that forms with support for $ 205 on the hour table of the SOL/USD pair.
Moreover, the price is confronted with resistance near the level of $ 212. The next major resistance is near the $ 215 level. The most important resistance can be $ 220. A successful closure above the $ 220 resistance zone could determine the pace for a new steady increase. The next key resistance is $ 225. More profits can send the price to the $ 232 level.
Disadvantage correction in SOL?
If Sol does not exceed $ 212 resistance, this can start a new decline. The first support on the disadvantage is near the $ 205 zone. The first major support is close to the $ 202 level.
A break below the $ 202 level, the price to the $ 195 support zone and the 50% FIB retracement level of the upward movement of the $ 177 swing low to $ 213 High. If there is an end under the support of $ 195, the price can fall to the $ 188 support 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 – $ 205 and $ 195.
Large resistance levels – $ 212 and $ 215.