Solana (SOL) Pushes Higher Again – Has It Finally Found Its Short-Term Bottom?

Solana started a fresh increase above the $180 ￰0￱ price is now consolidating above $185 and might aim for more gains above the $200 ￰1￱ price started a fresh upward move above the $175 and $180 levels against the US ￰2￱ price is now trading below $200 and the 100-hourly simple moving ￰3￱ is a bullish trend line forming with support at $188 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could extend gains if it clears the $200 resistance ￰4￱ Price Eyes More Gains Solana price started a decent increase after it found support near the $155 zone, beating Bitcoin and ￰5￱ climbed above the $172 level to enter a short-term positive ￰6￱ price even smashed the $180 ￰7￱ bulls were able to push the price above the 50% Fib retracement level of the downward move from the $225 swing high to the $155 low.

Besides, there is a bullish trend line forming with support at $188 on the hourly chart of the SOL/USD ￰8￱ is now trading below $200 and the 100-hourly simple moving ￰9￱ the upside, the price is facing resistance near the $198 level and the 61.8% Fib retracement level of the downward move from the $225 swing high to the $155 ￰10￱ next major resistance is near the $200 ￰11￱ main resistance could be $205. A successful close above the $205 resistance zone could set the pace for another steady ￰12￱ next key resistance is $212. Any more gains might send the price toward the $220 ￰13￱ Decline In SOL? If SOL fails to rise above the $200 resistance, it could start another ￰14￱ support on the downside is near the $190 zone and the trend ￰15￱ first major support is near the $182 level.

A break below the $182 level might send the price toward the $175 support ￰16￱ there is a close below the $175 support, the price could decline toward the $160 support in the near ￰17￱ Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish ￰18￱ Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 ￰19￱ Support Levels – $188 and $182. Major Resistance Levels – $198 and $200.