Solana (SOL) Spikes Higher – Bulls Tighten Grip As Market Heats Up Again

Solana found support near the $205 ￰0￱ price is now consolidating gains above $220 and might soon aim for more gains above $232. SOL price started a fresh increase above $215 and $220 against the US ￰1￱ price is now trading above $225 and the 100-hourly simple moving ￰2￱ is a connecting bullish trend line forming with support at $227 on the hourly chart of the SOL/USD pair (data source from Kraken). The price could start another increase if the bulls clear $235 and $242. Solana Price Aims Higher Solana price remained supported above the $215 pivot level and extended gains, like Bitcoin and ￰3￱ climbed above the $220 and $225 resistance ￰4￱ price even spiked above $235 before there was a ￰5￱ price dipped below $232 and tested $228.

It is again rising and trading near the 50% Fib retracement level of the recent decline from the $237 swing high to the $227 ￰6￱ is now trading above $225 and the 100-hourly simple moving average. Besides, there is a connecting bullish trend line forming with support at $227 on the hourly chart of the SOL/USD ￰7￱ there are more gains, the price could face resistance near the $234 level or the 61.8% Fib retracement level of the recent decline from the $237 swing high to the $227 ￰8￱ next major resistance is near the $238 ￰9￱ main resistance could be $242. A successful close above the $242 resistance zone could set the pace for another steady ￰10￱ next key resistance is $250.

Any more gains might send the price toward the $255 ￰11￱ Drop In SOL? If SOL fails to rise above the $237 resistance, it could continue to move ￰12￱ support on the downside is near the $227 zone and the trend ￰13￱ first major support is near the $225 level. A break below the $225 level might send the price toward the $220 support ￰14￱ there is a close below the $220 support, the price could decline toward the $212 support in the near ￰15￱ Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish ￰16￱ Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 ￰17￱ Support Levels – $225 and $220. Major Resistance Levels – $237 and $242.