Solana Price Consolidates Above $165, Eyes Resistance at $172

Solana (SOL) Overview

SOL price increased from the $160 zone, now trading above $168.
Resistance identified at $172; a break could lead to further gains.
Price is above the 100-hourly simple moving average.
Key support levels are $165 and $162.

Solana formed a base above $160 and surpassed resistance levels at $162 and $165. A break above the bearish trend line at $167 was noted. The price faces resistance near $172, with potential major resistance at $176 and $180. A close above $180 could trigger further increases towards $192 and $200.

If SOL does not surpass $172, it may decline. Initial support is at $168, followed by major support at $165. A drop below $165 could lead to a further decline toward $162 or even $150.

Technical Indicators:

MACD shows decreasing momentum in the bullish zone.
RSI remains above 50.