Support Level
• $170: The nearest support level, which has been tested multiple times recently. Maintaining this level is essential to sustain the upward trend.
• $162: The next support level if the price drops below $170.
• $153 – $143: A strong support zone, which has been tested multiple times in the past. Maintaining this zone is crucial to avoid a deeper downtrend.
🔺 Resistance Level
• $180 – $184: The nearest resistance zone that SOL needs to break through to continue the upward trend.
• $188: The next resistance level after the $180 – $184 range.
• $195: The next important resistance level after $188.
• $200 – $210: A strong resistance zone, where SOL has been rejected in previous attempts. Breaking through this zone could lead to a significant increase.
📈 Technical Signals
• RSI Indicator: Currently at around 62 on the 4-hour chart, indicating that buying pressure is increasing but not yet in the overbought zone.
• MACD: Has crossed above the signal line, indicating an increase in bullish momentum.
• Upward channel pattern: SOL has been trading in an upward channel since April, indicating that the upward trend is still maintained.
✅ Conclusion
Solana is currently trading at ~$176 near the important resistance level of $180 – $184. Breaking through this level with increased trading volume could pave the way for SOL to reach higher levels like $195, $200, and even $210 in the short term.
However, if it cannot break through this resistance, SOL may retrace to test support levels at $170 and $162.
This is a personal opinion and not investment advice. Readers should take it as a reference.
