Solana Price (SOL) Pushes Higher: Surge Shows No Signs of Slowing
27 September 2024 - 3:28PM
NEWSBTC
Solana is gaining pace above the $150 resistance zone. SOL price is
rising and might aim for a fresh increase above the $158 resistance
zone. SOL price started a fresh increase above the $150 zone
against the US Dollar. The price is now trading above $152 and the
100-hourly simple moving average. There is a key bullish trend line
forming with support at $150 on the hourly chart of the SOL/USD
pair (data source from Kraken). The pair could again gain bullish
momentum if it clears the $158 resistance zone. Solana Price Eyes
More Upsides Solana price extended its increase above the $150
resistance like Bitcoin and Ethereum. SOL even climbed above $155
before the bears appeared. A high was formed at $1582 and the price
started a downside correction. There was a move below the $156 and
$155 levels. The price dipped below the 23.6% Fib retracement level
of the upward move from the $146 swing low to the $158 high.
However, the bulls were active near the $154 support zone. Solana
is now trading above $152 and the 100-hourly simple moving average.
There is also a key bullish trend line forming with support at $150
on the hourly chart of the SOL/USD pair. It is close to the 61.8%
Fib retracement level of the upward move from the $146 swing low to
the $158 high. On the upside, the price is facing resistance near
the $158 level. The next major resistance is near the $162 level. A
successful close above the $158 and $162 resistance levels could
set the pace for another steady increase. The next key resistance
is near $174. Any more gains might send the price toward the $180
level. More Downsides in SOL? If SOL fails to rise above the $158
resistance, it could start another decline. Initial support on the
downside is near the $153 level. The first major support is near
the $150 level. A break below the $150 level might send the price
toward the $145 zone. If there is a close below the $145 support,
the price could decline toward the $138 support 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 – $153 and $150. Major Resistance Levels – $158 and $162.
Ethereum (COIN:ETHUSD)
Historical Stock Chart
From Sep 2024 to Oct 2024
Ethereum (COIN:ETHUSD)
Historical Stock Chart
From Oct 2023 to Oct 2024