Solana is displaying bullish indicators above $15 towards the US Greenback. SOL worth may prolong its rally above the $18 and $20 resistance ranges.
- Sol worth began a contemporary enhance above the $15 and $16 ranges towards the US Greenback.
- The value is now buying and selling above $16 and the 100 easy transferring common (4-hours).
- There’s a key bullish pattern line forming with help close to $15.90 on the 4-hours chart of the SOL/USD pair (information supply from Kraken).
- The pair may rise additional if it stays above the $15.00 and $12.80 help ranges.
Solana Value Eyes Extra Beneficial properties
This week, solana worth shaped a base and began a gentle enhance above the $14 degree. There was a robust enhance above the $15 resistance zone, much like bitcoin and ethereum.
The bulls even managed to pump the worth above the $16.50 resistance. It traded to a brand new yearly excessive at $17.47 and is at the moment consolidating beneficial properties. There was a minor correction under the 23.6% Fib retracement degree of the upward wave from the $12.70 swing low to $17.47 excessive.
Sol worth is now buying and selling above $16 and the 100 easy transferring common (4-hours). There’s additionally a key bullish pattern line forming with help close to $15.90 on the 4-hours chart of the SOL/USD pair.
Supply: SOLUSD on TradingView.com
On the upside, a direct resistance is close to the $17.50 degree. The primary main resistance is close to the $18 degree. The following main resistance is close to the $18.80 zone, above which the worth may rise in the direction of the $20 barrier. Any extra beneficial properties may ship the worth in the direction of the $25 degree.
Dips Engaging in SOL?
If SOL fails to clear the $18 resistance, it may begin a draw back correction. An preliminary help on the draw back is close to the $16.35 degree.
The primary main help is close to the $15.00 degree and the pattern line. It’s close to the 50% Fib retracement degree of the upward wave from the $12.70 swing low to $17.47 excessive. The following main help is close to the $14.10 degree. If there’s a draw back break under the $14.10 help, the worth may check the following key help at $12.80.
Technical Indicators
4-Hours MACD – The MACD for SOL/USD is gaining tempo within the bullish zone.
4-Hours RSI (Relative Power Index) – The RSI for SOL/USD is above the 50 degree.
Main Assist Ranges – $16.30, $15.00 and $14.10.
Main Resistance Ranges – $17.40, $18 and $20.
