Solana (SOL) Gains Capped—Breaking $150 Won’t Be Easy
Analysis
Price Impact
MedThe article suggests sol faces resistance at $145 and $150, indicating that breaking these levels will be challenging. failure to overcome the $142 resistance could lead to a decline.
Trustworthiness
HighThe source emphasizes accuracy, relevance, and impartiality, with content created and reviewed by industry experts.
Price Direction
NeutralThe analysis presents both bullish and bearish scenarios. a break above $145 could lead to further gains, while failure to overcome $142 may result in a decline towards $125 or even $114.
Time Effect
ShortThe analysis focuses on immediate resistance and support levels, suggesting potential price movements in the near term.
Original Article:
Article Content:
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Solana started a recovery wave above the $132 resistance zone. SOL price is now consolidating and might struggle to recover above the $150 resistance. SOL price started a recovery wave from the $125 support zone against the US Dollar. The price is now trading above $130 and the 100-hourly simple moving average. There is a connecting bullish trend line forming with support at $134 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if the bulls clear the $142 zone. Solana Price Faces Resistance Solana price started a recovery wave from the $125 zone, like Bitcoin and Ethereum . SOL was able to climb above the $132 and $140 resistance levels. The price even cleared the $142 level, but it faced resistance near $145. A high was formed at $145 and the price started a downside correction. There was a move below the $142 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $125 swing low to the $145 high. Solana is now trading above $130 and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $134 on the hourly chart of the SOL/USD pair. Solana Price On the upside, the price is facing resistance near the $140 level. The next major resistance is near the $142 level. The main resistance could be $145. A successful close above the $145 resistance zone could set the pace for another steady increase. The next key resistance is $150. Any more gains might send the price toward the $162 level. Another Decline in SOL? If SOL fails to rise above the $142 resistance, it could start another decline. Initial support on the downside is near the $135 zone and the 50% Fib retracement level of the upward move from the $125 swing low to the $145 high. The first major support is near the $133 level. A break below the $133 level might send the price toward the $125 zone. If there is a close below the $125 support, the price could decline toward the $114 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is losing pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $135 and $133. Major Resistance Levels – $142 and $145.