Solana (SOL) Aims Recovery Run, $155 Resistance Now Back in Focus

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. Solana started a recovery wave above the $132 zone. SOL price is now consolidating and faces hurdles near the $145 zone. SOL price started a decent recovery wave above $135 and $140 against the US Dollar. The price is now trading above $140 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $140 on the hourly chart of the SOL/USD pair (data source from Kraken). The price could continue to move up if it clears $145 and $150. Solana Price Aims Higher Levels Solana price remained stable and started a decent recovery wave above $130, beating Bitcoin and Ethereum . SOL was able to climb above the $135 level. There was a move above the 23.6% Fib retracement level of the downward move from the $172 swing high to the $129 low. Besides, there was a break above a key bearish trend line with resistance at $140 on the hourly chart of the SOL/USD pair. Solana is now trading above $140 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $145 level. The next major resistance is near the $150 level. Source: SOLUSD on TradingView.com The main resistance could be $155 and the 61.8% Fib retracement level of the downward move from the $172 swing high to the $129 low. A successful close above the $155 resistance zone could set the pace for another steady increase. The next key resistance is $165. Any more gains might send the price toward the $172 level. Another Drop In SOL? If SOL fails to rise above the $150 resistance, it could continue to move down. Initial support on the downside is near the $138 zone. The first major support is near the $135 level. A break below the $135 level might send the price toward the $128 support zone. If there is a close below the $128 support, the price could decline toward the $120 zone in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $138 and $135. Major Resistance Levels – $150 and $155.