Solana (SOL) Gains Support; Rally May Resume

Solana rose over $175 again. SOL is reversing gains and may find offers at $172.

SOL began rising beyond $160 and $165 versus the US Dollar.

The price is at $175 and the 100-hour SMA.

The hourly SOL/USD chart shows a short-term descending channel or bullish flag with support at $172.

The pair might rise again if it breaks $180 resistance.
Price Corrects Solana Gains

Like Bitcoin and Ethereum, Solana pricing built a base over $155 and increased. SOL accelerated ahead of $160 and $165 resistance.

However, bears operated below $185 resistance. Price corrected after hitting $184.75 high. The price fell below $180 and $178. The price fell below the 50% Fib retracement line of the $166 swing low to $185 high upward rise.

Bulls remain above $172, the 61.8% Fib retracement line of the rise from the $166 swing low to the $185 high. Solana trades at $175 and the 100-hour SMA. On the hourly SOL/USD chart, a short-term declining channel or bullish flag with support at $172 is formed.

The stock faces upward resistance at $178. 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 $180 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

Hourly MACD - SOL/USD MACD is falling in the positive zone.

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

Major Support Levels: $172, $170.

Key Resistance Levels: $180, $185.

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