Solana Set to Ignite: Are the Bulls Back in Control?

Above $162, Solana rose again. SOL price is stabilizing at $175 and may rise over $180.

SOL price rose over $155 and $162 versus the US Dollar.

The price is below $165 and the 100-hourly SMA.

The hourly SOL/USD chart shows a short-term ascending channel with support at $172.

If it breaks $176 barrier, the pair may rise again.
Price of Solana consolidates gains

Solana price, like Bitcoin and Ethereum, found a base over $150 and increased. SOL accelerated past $155 and $162 resistance.

However, bears operated below $180 resistance. Price retreated after hitting $180.10 high. The price fell below $175 and $172. The price is trying to rise from $169.53, its low.

The bearish move from the $180 swing high to the $170 low moved over the 50% Fib retracement line. Solana is over $172 and the 100-hour SMA. The hourly SOL/USD chart shows a short-term ascending channel with support at $172.

Upside, the stock faces resistance at $176 and the 61.8% Fib retracement level of the decline from the $180 swing high to the $170 low. Near $180 is the next significant resistance.

$185 may be key resistance. Close above the $185 resistance zone might start another steady rise. The next hurdle is $192. Further rises might push the price beyond $200.

SOL downside correction?
SOL might tumble again if it fails to break $176 barrier. Near $172 is first downside support. First big support is around $170.

A breach below $170 might push the price near $162. If the stock closes below $162, it may fall below $150.

Tech Indicators

SOL/USD hourly MACD is rising in the positive zone.

Hourly RSI – RSI for SOL/USD is over 50.

Major Support Levels: $172, $170.

Key Resistance Levels: $176, $180.

#solana #ETHCrossed2500 #AltcoinSeasonLoading #AltcoinTrade $SOL