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lunes, abril 15, 2024

SOL Value Crosses $200 Milestone, What’s Subsequent For Solana?


Solana is gaining bullish momentum above $200. SOL worth continues to be exhibiting constructive indicators, and it might even surpass the $220 resistance within the close to time period.

  • SOL worth gained bullish momentum and cleared the $200 resistance in opposition to the US Greenback.
  • The value is now buying and selling above $200 and the 100 easy shifting common (4 hours).
  • There’s a connecting bullish pattern line forming with assist at $195 on the 4-hour chart of the SOL/USD pair (information supply from Kraken).
  • The pair might proceed to rally if it clears the $205 and $212 resistance ranges.

Solana Value Extends Rally

Solana worth remained robust above the $150 degree and prolonged its rally. There was an honest improve above the $165 and $180 ranges.

The value is up almost 20% and there was a transfer above the $200 degree, outperforming Bitcoin and Ethereum. A brand new multi-month excessive was shaped close to $204, and the worth is now consolidating positive factors. It’s secure above the 23.6% Fib retracement degree of the upward transfer from the $142 swing low to the $204 excessive.

There’s additionally a connecting bullish pattern line forming with assist at $195 on the 4-hour chart of the SOL/USD pair. Solana is now buying and selling above $200 and the 100 easy shifting common (4 hours).

SOL Price

Supply: SOLUSD on TradingView.com

Speedy resistance is close to the $205 degree. The following main resistance is close to the $212 degree. A profitable shut above the $212 resistance might set the tempo for an additional main improve. The following key resistance is close to $220. Any extra positive factors would possibly ship the worth towards the $232 degree.

Are Dips Supported in SOL?

If SOL fails to rally above the $205 resistance, it might begin a draw back correction. Preliminary assist on the draw back is close to the $195 degree and the pattern line.

The primary main assist is close to the $175 degree or the 50% Fib retracement degree of the upward transfer from the $142 swing low to the $204 excessive, under which the worth might take a look at $165. If there’s a shut under the $165 assist, the worth might decline towards the $150 assist or the 100 easy shifting common (4 hours) within the close to time period.

Technical Indicators

4-Hours MACD – The MACD for SOL/USD is gaining tempo within the bullish zone.

4-Hours RSI (Relative Power Index) – The RSI for SOL/USD is above the 50 degree.

Main Help Ranges – $19, and $175.

Main Resistance Ranges – $205, $212, and $220.

Disclaimer: The article is supplied for academic functions solely. It doesn’t symbolize the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You’re suggested to conduct your individual analysis earlier than making any funding selections. Use data supplied on this web site completely at your individual threat.

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