GET 10% OFF ON YOUR FIRST ORDER. FOR A LIMITED TIME ONLY. Use code: WELCOME on checkout

Solana (SOL) Eyes a Strong Comeback: Will the Rally Ignite a Surge?

Solana found support near the $160 zone. SOL price is slowly rising and might gain bullish momentum if it clears the $172 resistance zone.

  • SOL price corrected lower and tested the $160 support zone against the US Dollar.
  • The price is now trading above $165 and the 100-hourly simple moving average.
  • There was a break above a key bearish trend line with resistance at $164 on the hourly chart of the SOL/USD pair (data source from Kraken).
  • The pair could clear the $172 resistance unless it fails to stay above $165.

Solana Price Could Gain Momentum

Solana price formed a support base near the $160 level and started a recovery wave. SOL underperformed Bitcoin and Ethereum but managed to clear the $165 resistance.

There was a break above a key bearish trend line with resistance at $164 on the hourly chart of the SOL/USD pair. There was even a spike above the $170 zone and the 50% Fib retracement level of the downward move from the $181 swing high to the $160 low.

Solana price is now trading above $165 and the 100-hourly simple moving average. Immediate resistance is near the $170 level. The next major resistance is near the $171 level. A successful close above the $172 resistance could set the pace for another major increase.

Solana (SOL) Price

The next key resistance is near $176 or the 76.4% Fib retracement level of the downward move from the $181 swing high to the $160 low. Any more gains might send the price toward the $180 level.

Are Dips Supported in SOL?

If SOL fails to rally above the $172 resistance, it could start another decline. Initial support on the downside is near the $167 level.

The first major support is near the $165 level, below which the price could test $160. If there is a close below the $160 support, the price could decline toward the $150 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 – $165, and $160.

Major Resistance Levels – $170, $172, and $180.

Latest Press

post-thumbnail
News
3 hours ago
Dogecoin Heading Towards the Next Target at $0.6-A New ATH at $1 Is Loading for the DOGE Price Rally
The post Dogecoin Heading Towards the Next Target at $0.6-A New ATH at $1 Is Loading for the DOGE Pr...
READ MORE
post-thumbnail
News
3 hours ago
XRP Jumps 15%, Bitcoin at $98K: Big Moves Ahead?
The post XRP Jumps 15%, Bitcoin at $98K: Big Moves Ahead? appeared first on Coinpedia Fintech News T...
READ MORE
post-thumbnail
News
3 hours ago
Why is Cardano Price Going Up Today? 144% ADA Rally on Cards
The post Why is Cardano Price Going Up Today? 144% ADA Rally on Cards appeared first on Coinpedia Fi...
READ MORE
post-thumbnail
News
3 hours ago
From Near Zero to $5.95M—A BULLYsh story!
The post From Near Zero to $5.95M—A BULLYsh story! appeared first on Coinpedia Fintech News Almost...
READ MORE
post-thumbnail
News
3 hours ago
Cardano’s ADA Market Cap Triples In Past 17 Days! Is $6 Next for ADA?
The post Cardano’s ADA Market Cap Triples In Past 17 Days! Is $6 Next for ADA? appeared first on C...
READ MORE
post-thumbnail
News
3 hours ago
Altseason Has Begun-XLM, ALGO & AVAX Prices Trigger a Massive Surge as Bitcoin Consolidates
The post Altseason Has Begun-XLM, ALGO & AVAX Prices Trigger a Massive Surge as Bitcoin Consolid...
READ MORE
post-thumbnail
News
3 hours ago
$BTC Approaches $100k as Institutional Inflows Rise
The post $BTC Approaches $100k as Institutional Inflows Rise appeared first on Coinpedia Fintech New...
READ MORE
post-thumbnail
News
3 hours ago
XRP Price Prediction For November 23
The post XRP Price Prediction For November 23 appeared first on Coinpedia Fintech News XRP has recen...
READ MORE
post-thumbnail
News
3 hours ago
Bitcoin Genius? Kiyosaki Backs Saylor’s Bold Strategy
The post Bitcoin Genius? Kiyosaki Backs Saylor’s Bold Strategy appeared first on Coinpedia Fintech...
READ MORE
post-thumbnail
News
3 hours ago
Trump Reveals Plan for Crypto, Big Tech, and Immigration!
The post Trump Reveals Plan for Crypto, Big Tech, and Immigration! appeared first on Coinpedia Finte...
READ MORE

Publish an article now

Unlock the power of media for instant visibility to the target audience, major SEO boost, greater website traffic and conversion rates.

click here to get started