⏳ Solana at the Edge — Will Bulls Power Through Resistance?

From $162, Solana rose again. SOL price is stabilizing and may rise over $172.

SOL price rose over $165 and $166 vs the US Dollar.

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

The hourly SOL/USD chart shows a contracting triangle with resistance around $168.

If it breaks $172 barrier, the pair may rise again.

Solana Price Sees Rise

Solana price rose after finding support at $162, like Bitcoin and Ethereum. SOL entered a short-term bullish zone over $165.

The price broke $1682 barrier. Bulls broke the 50% Fib retracement level of the decline from the $172 swing high to the $162 low. Bears are active near $170.

Resistance is the 76.4% Fib retracement level of the $172 swing high to $162 low decline. The hourly SOL/USD chart shows a contracting triangle with resistance around $168.

Above $165 and the 100-hourly simple moving average, Solana trades. The stock faces upward resistance at $170. Near $172 is the next significant resistance. Possibly $175 is the major resistance. Close above the $175 barrier zone might start another steady rise. The next hurdle is $182. More advances might push the price toward $192.

Is SOL's downside limited?

SOL may drop if it fails to break $170 resistance. Near $164 is first downside support. Near $162 is the first big support.

A break below $162 might push pricing below $152 support. If the price closes below $150, it may fall below $145.

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: $164, $162.

Major Resistance: $170, $172.

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