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SOL Tag Crosses $200 Milestone, What’s Next For Solana?

SOL Tag Crosses $200 Milestone, What’s Next For Solana?

Solana is gaining bullish momentum above $200. SOL label remains to be showing certain indicators, and it can perchance presumably even surpass the $220 resistance within the come term.

  • SOL label gained bullish momentum and cleared the $200 resistance against the US Buck.
  • The price is now procuring and selling above $200 and the 100 easy appealing common (4 hours).
  • There’s a connecting bullish vogue line forming with pork up at $195 on the 4-hour chart of the SOL/USD pair (info source from Kraken).
  • The pair may possibly presumably proceed to rally if it clears the $205 and $212 resistance levels.

Solana Tag Extends Rally

Solana label remained solid above the $150 level and prolonged its rally. There turned into as soon as a first fee amplify above the $165 and $180 levels.

The price is up regarding twenty% and there turned into as soon as a switch above the $200 level, outperforming Bitcoin and Ethereum. A modern multi-month high turned into as soon as formed come $204, and the price is now consolidating gains. It’s staunch above the 23.6% Fib retracement level of the upward switch from the $142 swing low to the $204 high.

There is moreover a connecting bullish vogue line forming with pork up at $195 on the 4-hour chart of the SOL/USD pair. Solana is now procuring and selling above $200 and the 100 easy appealing common (4 hours).

SOL Tag

Supply: SOLUSD on TradingView.com

Prompt resistance is come the $205 level. The next most famous resistance is come the $212 level. A a success shut above the $212 resistance may possibly presumably set of residing the coast for one more most famous amplify. The next key resistance is come $220. To any extent further gains may possibly presumably send the price toward the $232 level.

Are Dips Supported in SOL?

If SOL fails to rally above the $205 resistance, it can perchance presumably originate a design back correction. Preliminary pork up on the design back is come the $195 level and the vogue line.

The first most famous pork up is come the $175 level or the 50% Fib retracement level of the upward switch from the $142 swing low to the $204 high, under which the price may possibly presumably test $165. If there may be a shut under the $165 pork up, the price may possibly presumably decline toward the $150 pork up or the 100 easy appealing common (4 hours) within the come term.

Technical Indicators

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

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

Important Assist Ranges – $19, and $175.

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

Disclaimer: The article is supplied for educational functions most effective. It does not signify the opinions of NewsBTC on whether to get, promote or have any investments and naturally investing carries risks. It’s likely you’ll perchance presumably be advised to habits your individual research sooner than making any funding decisions. Exhaust info provided on this internet space entirely at your individual probability.

Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies, and Financial Market Strategist. He makes a speciality of market strategies and technical evaluation and has spent over 15 years as a financial markets contributor and observer. He moreover founded an IT firm and works conscientiously in offering high-quality system products and companies.

Aayush possesses solid technical analytical talents and is neatly-known for his inviting and informative evaluation of the currency, commodities, Bitcoin, and Ethereum markets. Notice him on Twitter @AayushJs.

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