Solana started a new increase above $ 220 zone. Sol Price now consolidates above $ 215 and can strive for more profit above $ 225 zone.
- Sol Price started a new upward movement above the levels of $ 212 and $ 215 against the US dollar.
- The price is now traded above $ 215 and the 100-hour simple advancing average.
- There is a bullish trend line that forms with support at $ 222 on the hour table of the SOL/USD pair (data source of Kraken).
- The couple can increase profit if it knew the $ 225 resistance zone.
Solana Price Eyes more profits
Solana Price started a considerable elevation after it had found support near the $ 205 zone, where Bitcoin and Ethereum were defeated. Sol climbed above the level of $ 212 to enter a positive zone in the short term.
The price even beat the $ 218 resistance. The bulls could push the price above the barrier of $ 220. A high was formed at $ 226 and the price is the consolidation of profits over the 23.6% FIB retracement level of the upward movement of the $ 199 Swing Low to $ 226 High.
Solana is now traded above $ 215 and the 100-hour simple advancing average. There is also a bullish trend line that forms with support for $ 222 on the hour table of the SOL/USD pair.
Moreover, the price is confronted with resistance near the level of $ 225. The next major resistance is close to the $ 232 level. The most important resistance can be $ 235. A successful closure above the $ 235 resistance zone could determine the pace for a new steady increase. The next key resistance is $ 245. More profits can send the price to the $ 250 level.
Disadvantage correction in SOL?
If Sol does not exceed $ 225 resistance, this can start a new decline. The first support on the disadvantage is near the $ 222 zone and the trend line. The first major support is close to the $ 212 level or the 50% FIB retracement level of the upward movement from the $ 199 Swing Low to $ 226 High.
A break below the level of $ 212 can send the price to the $ 205 support zone. If there is an end under the support of $ 205, the price can fall to the $ 200 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 – $ 222 and $ 212.
Important resistance levels – $ 225 and $ 235.