$SOL

Crypto Market Surging on SOL Momentum ?

Solana Price Starts Fresh Surge

Solana price formed support near $138 and started a fresh up move. SOL outperformed Bitcoin and Ethereum and moved into a positive zone above $150.

There was a break above a key bearish trend line with resistance at $148 on the hourly chart of the SOL/USD pair. The pair even broke the $155 resistance and surged above $162. The new weekly high was $163.76 and the price is currently consolidating gains.

It held the 23.6% Fib retracement level of the upward move from the $141 swing low to $164 high. Solana is currently trading above $160 and the 100 simple moving average (4-hours).

An immediate resistance is near $165. The next major resistance is near $172. A successful close above the $172 resistance could set the stage for another sharp rise.  

The next key resistance is near the $180 level. Further gains could carry the price towards the $188 level.