Above $162, Solana has risen again. The price of SOL is stabilizing at $175 and may rise above $180.
The price of SOL has risen above $155 and $162 against the US dollar.
The price is below $165 and the 100-hour SMA.
The SOL/USD hourly chart shows a short-term ascending channel with support at $172.
If it breaks the $176 barrier, the pair may rise again.
The price of Solana is confirming the gains.
The price of Solana, like Bitcoin and Ethereum, found a base above $150 and increased. SOL accelerated through resistance at $155 and $162.
However, bears are working under the resistance of $180. The price retreated after reaching a high of $180.10. The price fell below $175 and $172. It is trying to rise from $169.53, its lowest point.
The bearish move from a high of $180 to a low of $170 has moved above the 50% Fibonacci retracement line. Solana is above $172 and the 100-hour SMA. The SOL/USD hourly chart shows a short-term ascending channel with support at $172.
For the rise, the stocks face resistance at $176 and the 61.8% Fibonacci retracement level from the drop from $180 to $170. Near $180 is the next significant resistance.
$185 may be a major resistance. Closing above the $185 resistance area could start another steady rise. The next hurdle is $192. Further increases may push the price above $200.
SOL correction down?
SOL may collapse again if it fails to break the $176 barrier. Near $172 is the first support downwards. The first major support is around $170.
A break below $170 could push the price near $162. If the stocks close below $162, it may drop below $150.
Technical indicators
MACD for SOL/USD on the hourly chart is rising in the positive area.
Hourly RSI – RSI for SOL/USD is above 50.
Major support levels: $172, $170.
Major resistance levels: $176, $180.