🎯 Solana Coils Up — Is a Big Move Just Around the Corner?

From $160, Solana rose again. SOL price is stabilizing and may rise over $172.

SOL price rose beyond $165 vs the US Dollar.
The price is above $168 and the 100-hour SMA.
SOL/USD broke above a negative trend line with resistance at $167 on the hourly chart.

If it breaks $172 barrier, the pair may rise again.
Solana Price Rises Above $165

Like Bitcoin and Ethereum, Solana pricing built a base over $160 and increased. SOL accelerated past $162 and $165 resistance.

The bearish move from the $177 swing high to the $160 low was well over the 50% Fib retracement line. In addition, the hourly SOL/USD chart broke over a negative trend line with resistance at $167.

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However, bears were aggressive at $172 resistance. Resistance comes from the 76.4% Fib retracement level of the $177 swing high to $160 low.

Solana is over $168 and the 100-hour SMA. Price is finding resistance at $172 on the upside. Near $176 is the next significant resistance. $180 may be key barrier. Close over the $180 barrier zone might start another steady rise. The next hurdle is $192. Further rises might push the price beyond $200.

SOL Decline Again?
SOL might tumble again if it fails to break $172 barrier. Around $168 is first downside support. First big support is around $165.

A breach below $165 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 over 50.

Major Support Levels: $165, $162.

Major Resistance: $172, $176.