Solana Tests $150 Support — Will the Bulls Hold the Line?
Solana rose over $160 again. SOL is reversing gains and may find offers at $155.
SOL began rising beyond $155 and $160 versus the US Dollar.
The price is below $162 and the 100-hourly SMA.
SOL/USD broke below a positive trend line with support around $162 on the hourly chart.
The pair might rise again if it breaks $162 barrier.
Price Corrects Solana Gains
After breaking $160 barrier, Solana price rose like Bitcoin and Ethereum. SOL entered a short-term bullish zone over $162.
The pricing faces a huge challenge between $168 and $169. After hitting $168.60, the price is correcting. The upward run from the $158 swing low to the $168 high fell below the 50% Fib retracement line.
Additionally, the hourly SOL/USD chart broke below a major bullish trend line with support around $162. Solana is below $162 and the 100-hour SMA. It is also below the 76.4% Fib retracement line of the $158 swing low to $168 high bullish advance.
Price is reaching $158 support. Price is finding resistance at $160 on the upside. Near $162 is the next significant resistance. The major obstacle may be $1685. Close above $168 barrier might start another steady rise. The next hurdle is $178. More advances might push the price toward $185.
More SOL losses?
SOL might tumble again if it fails to break $162 barrier. Around $158 is first downside support. First significant support is around $155.
A fall below $155 might bring prices below $150. If the price closes below $150, it may fall below $145.
Tech Indicators
MACD hourly for SOL/USD is rising in the negative zone.
Hourly RSI – RSI for SOL/USD is below 50.
Major Support Levels: $158, $155.
Major Resistance: $162, $168.
