Solana Price Recovers; Faces Resistance at $145 and $150

Solana (SOL) Price Analysis

  • The Solana price has started a recovery above the $132 mark, stabilizing above $140 and the 100-hourly simple moving average.
  • There was a break above a significant bearish trend line with resistance at $140 on the hourly chart of the SOL/USD pair.
  • Immediate resistance levels are $145 and $150, with major resistance at $155, which aligns with the 61.8% Fib retracement level from $172 high to $129 low.

Solana Price

Potential Movements

  • If SOL successfully closes above the $155 resistance, it may approach $165, with further gains potentially reaching $172.
  • If SOL fails to surpass the $150 resistance, it might decline, with initial support at $138 and primary support at $135.
  • A drop below $135 could drive the price towards the $128 support zone, risking further decline to $120.

Technical Indicators

  • Hourly MACD: Gaining momentum in the bullish zone for SOL/USD.
  • Hourly RSI: Positioned above 50, indicating potential strength.
  • Major Support Levels: $138 and $135.
  • Major Resistance Levels: $150 and $155.