Earn Your First Bitcoin Sign up and get Bonus Referral bonus up to ,000 Sign up Solana price started a decent increase above the .50 resistance against the US Dollar. The price is now trading above .50 and the 55 simple moving average (4 hours). There is a key bullish trend line forming with support near .40 on the 4-hour chart of the SOL/USD pair (data feed from Coinbase). The pair must clear .50 and .75 to continue higher in the near term. Solana price is trading above .50 against the US Dollar, similar to Bitcoin. SOL could start a strong increase if it clears the .50 resistance. Solana (SOL) Price Analysis SOL price found support near the .20 zone. The price
Topics:
Aayush Jindal considers the following as important: Altcoin News, News, sol, solana, Trading
This could be interesting, too:
Bitcoin Schweiz News writes Meme Coins frühzeitig entdecken: So gelingt der Einstieg vor dem Hype
Christian Mäder writes Bitpanda startet DeFi Wallet und öffnet die Tür zu Web3
Bitcoin Schweiz News writes Bitpanda vs. Binance: Welche Bitcoin-App ist die beste für die Schweiz?
Bitcoin Schweiz News writes OpenSea: Der Marktplatz für NFTs und digitale Sammlerstücke
Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000
Sign up- Solana price started a decent increase above the $15.50 resistance against the US Dollar.
- The price is now trading above $15.50 and the 55 simple moving average (4 hours).
- There is a key bullish trend line forming with support near $15.40 on the 4-hour chart of the SOL/USD pair (data feed from Coinbase).
- The pair must clear $17.50 and $17.75 to continue higher in the near term.
Solana price is trading above $15.50 against the US Dollar, similar to Bitcoin. SOL could start a strong increase if it clears the $18.50 resistance.
Solana (SOL) Price Analysis
SOL price found support near the $13.20 zone. The price remained well-bid and recently started a decent increase above the $14.00 level. The bulls were able to push the price above $15.00.
It broke the 23.6% Fib retracement level of the main decline from the $22.33 swing high to the $13.21 low. It is now trading above $15.50 and the 55 simple moving average (4 hours). There is also a key bullish trend line forming with support near $15.40 on the 4-hours chart of the SOL/USD pair.
On the upside, immediate resistance is near the $17.50 level. The next major resistance is near the $17.75 zone. It is close to the 50% Fib retracement level of the main decline from the $22.33 swing high to the $13.21 low.
Any more gains might send SOL price towards the $18.50 resistance zone, above which the price could accelerate higher. The next major resistance sits near the $22.00 level.
On the downside, initial support is near the $16.00 level. The next major support is near the trend line zone at $15.40 and the 55 simple moving average (4 hours). A downside break below the $15.40 support level push the price toward the $14.20 support.
Any more losses might open the doors for more losses toward the $13.20 low in the coming sessions. The next major support is near $12.00.
Solana (SOL) Price
Looking at the chart, Solana price is clearly trading above $15.50 and the 55 simple moving average (4 hours). Overall, the price must clear $17.50 and $17.75 to continue higher in the near term.
Technical Indicators
4 hours MACD – The MACD is now gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI is now above the 50 level.
Key Support Levels – $15.40 and $14.20.
Key Resistance Levels – $17.50, $17.75, and $18.50.