Solana started a new increase above $ 160 zone. Sol Price now corrects profits and can find bids near the $ 155 support zone
- Sol Price started a new upward movement above the levels of $ 155 and $ 160 against the US dollar.
- The price is now traded under $ 162 and the 100-hour simple advancing average.
- There was a break under an important bullish trend line with support for $ 162 on the hour table of the SOL/USD pair (data source of Kraken).
- The couple can start a new increase if it knew the $ 162 resistance zone.
Solana -Prize corrects profits
Solana Price started a considerable increase after it had erased the resistance of $ 160, such as Bitcoin and Ethereum. Sol climbed above the level of $ 162 to enter a positive zone in the short term.
However, the price is confronted with a large obstacle at $ 168 and $ 169. A high is formed at $ 168.60 and the price is now correcting profits. There was a movement below the 50% FIB racement level of the upward movement of the $ 158 swing low to $ 168 high.
By the way, there was a break under an important bullish trend line with support for $ 162 on the hour table of the SOL/USD pair. Solana now acts under $ 162 and the 100-hour simple advancing average. It is also traded under the FIB racement level of 76.4% of the upward movement of the $ 158 Swing Low to $ 168 High.
The price is now approaching the support of $ 158. Moreover, the price is confronted with resistance near the level of $ 160. The next major resistance is close to the $ 162 level. The most important resistance can be $ 1685. A successful closure above the $ 168 resistance zone could determine the pace for a new steady increase. The next key resistance is $ 178. More profits can send the price to the $ 185 level.
More losses in Sol?
If Sol does not exceed $ 162 resistance, this can start a new decline. The first support on the other hand is near the $ 158 zone. The first major support is near the $ 155 level.
A break below the $ 155 level can send the price to the $ 150 zone. If there is an end under the support of $ 150, the price can fall to $ 145 support in the short term.
Technical indicators
Hourly MacD – The MACD for SOL/USD wins pace in the bearish zone.
Hours -hours RSI (relative strength -index) -The RSI for SOL/USD is below the 50 level.
Important support levels – $ 158 and $ 155.
Important resistance levels – $ 162 and $ 168.