Solana price started a decent increase above the resistance against the US Dollar. The price is now trading above .00 and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near .50 on the 4-hours chart of the SOL/USD pair (data feed from Coinbase). The pair must clear .00 and .80 to continue higher in the near term. Solana price is trading above against the US Dollar, similar to bitcoin. SOL could start a strong increase if it clears the .80 resistance. Solana (SOL) Price Analysis SOL price remained in a bullish zone above the .20 and .50 support levels. The bulls were active near the .50 zone. A base was formed and the price started a decent increase above the .80 level. There was a
Topics:
Aayush Jindal considers the following as important: Altcoin News, News, sol, solana, Trading
This could be interesting, too:
Chayanika Deka writes Sui Network Suffers Outage Due to Bug in Transaction Scheduling Logic
Chayanika Deka writes Sky (Formerly Maker) Announces USDS’s Debut on Solana Blockchain
Bitcoin Schweiz News writes Die besten Bitcoin-Börsen für die Schweiz: Sortiert nach Trustpilot-Rating
Bitcoin Schweiz News writes Diese 3 Bitcoin-Börsen sind für Anfänger besonders geeignet
- Solana price started a decent increase above the $28 resistance against the US Dollar.
- The price is now trading above $30.00 and the 55 simple moving average (4-hours).
- There is a key bullish trend line forming with support near $31.50 on the 4-hours chart of the SOL/USD pair (data feed from Coinbase).
- The pair must clear $33.00 and $33.80 to continue higher in the near term.
Solana price is trading above $31 against the US Dollar, similar to bitcoin. SOL could start a strong increase if it clears the $33.80 resistance.
Solana (SOL) Price Analysis
SOL price remained in a bullish zone above the $27.20 and $27.50 support levels. The bulls were active near the $27.50 zone. A base was formed and the price started a decent increase above the $28.80 level.
There was a steady increase above the $30.00 level and the 55 simple moving average (4-hours). The pair even surged above the $32 level. There was a spike above the $34.00 level, but the bulls struggled to test $35. A high was formed near $34.39 and the price is now correcting gains.
It is now trading above $30.50 and the 55 simple moving average (4-hours). There was a move below the 23.6% Fib retracement level of the upward move from the $30.12 swing low to $34.39 high.
On the downside, an initial support is near the $32.20 level or the 50% Fib retracement level of the upward move from the $26.84 swing low to $32.38 high. The next key support is near the $31.50 level. There is also a key bullish trend line forming with support near $31.50 on the 4-hours chart of the SOL/USD pair.
A downside break below the $31.50 support level might spark a sharp decline. In the stated case, the price may perhaps decline towards the $30.00 level. Any more losses might call for a test of $28.00.
On the upside, an immediate resistance is near the $32.20 level. The next major resistance is near the $33.80 level. Any more gains might send sol price towards the $35.00 resistance zone. The next major resistance sits near the $36.80 level.
Solana (SOL) Price
Looking at the chart, solana price is clearly trading above $30 and the 55 simple moving average (4-hours). Overall, the price must clear $33.00 and $33.80 to continue higher in the near term.
Technical Indicators
4 hours MACD – The MACD is now losing momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI is now above the 50 level.
Key Support Levels – $32.20 and $31.50.
Key Resistance Levels – $33.20, $33.80 and $35.00.