Solana (SOL) Poised for Takeoff — Bulls Prepare for Rally Reboot 🚀
Solana (SOL) has resumed its upward trend, trading above $162. Currently consolidating near $175, SOL has the potential to exceed the $180 resistance zone. After forming a base over the $150 support, SOL started its fresh ascent similar to Bitcoin and Ethereum. Although it faced resistance just below $180, SOL corrected gains and now seems primed for another increase.
Notably, it is trading above $172 and the 100-hourly simple moving average, forming a short-term rising channel. Overcoming the $176 and $180 resistances could pave the way for a steady climb, with significant barriers at $185 and potentially $192. However, failure to clear $176 might lead SOL down to supports at $172 or $170, with a possible dip towards $162 if the correction continues.
Technical indicators remain optimistic, with the MACD gaining in the bullish zone and RSI above 50, suggesting that momentum could favor a price hike. Meanwhile, significant support and resistance levels lie at $172, $170, $176, and $180, respectively. Sustaining above these thresholds could help Solana reach targets at $185 or even $200 soon.
Source: www.newsbtc.com ↗
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