Solana Price Consolidates Above $150 with Potential Breakout at $155

Solana (SOL) Price Update

SOL price increased above $135 and $150 against the US Dollar.
Current trading is above $150 and the 100-hourly simple moving average.
A bullish trend line is forming with support at $150 on the hourly chart.
Potential for further increases if it surpasses the $155 resistance.

Price Movement

SOL established a base above $132, rising over 10%. It reached a high of $154.55 before consolidating gains, dipping slightly below the 23.6% Fib retracement level from the recent swing low of $145 to the high of $155.

Resistance levels are at $154 and $155, with major resistance identified at $162. A close above $162 could lead to further upward movement towards $175 and potentially $180.

Potential Decline Risks

If SOL does not break the $155 resistance, it may decline. Key support levels are:

$150
$145
$138
$132

Technical indicators show an increasing MACD in the bullish zone and an RSI above 50.