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Solana Price (SOL) Climbs 5%: Is a $200 Target Achievable?

July 22, 2024Updated:July 22, 2024No Comments3 Mins Read
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Solana Price (SOL) Climbs 5%: Is a 0 Target Achievable?
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Solana began a contemporary improve above the $175 zone. SOL worth is displaying indicators of power and would possibly climb additional above the $185 resistance.

  • SOL worth began a good upward transfer above the $175 resistance in opposition to the US Greenback.
  • The value is now buying and selling above $175 and the 100-hourly easy shifting common.
  • There’s a key bullish pattern line forming with help at $176 on the hourly chart of the SOL/USD pair (information supply from Kraken).
  • The pair might purpose for extra upsides if it clears the $185 resistance degree.

Solana Value Eyes Extra Upsides Above $185

Solana worth remained in a constructive zone above $150 and prolonged its improve above $155. SOL began a contemporary improve above the $162 and $165 resistance ranges, outperforming Bitcoin and Ethereum.

There was a transfer above the $180 degree. The value gained over 5% and examined the $185 resistance. A excessive was shaped at $185.11 and the value is now consolidating positive factors close to the 23.6% Fib retracement degree of the upward transfer from the $170.58 swing low to the $185.11 excessive.

Solana is now buying and selling above the $180 degree and the 100-hourly easy shifting common. There may be additionally a key bullish pattern line forming with help at $176 on the hourly chart of the SOL/USD pair. It’s near the 61.8% Fib retracement degree of the upward transfer from the $170.58 swing low to the $185.11 excessive.

Solana Price (SOL) Climbs 5%: Is a 0 Target Achievable?

On the upside, the value would possibly face resistance close to the $185 degree. The subsequent main resistance is close to the $188 degree. A profitable shut above the $188 resistance might set the tempo for an additional regular improve. The subsequent key resistance is close to $192. Any extra positive factors would possibly ship the value towards the $200 degree.

Are Dips Supported in SOL?

If SOL fails to rise above the $185 resistance, it might begin a draw back correction. Preliminary help on the draw back is close to the $180 degree. The primary main help is close to the $176 degree and the pattern line.

A break beneath the $176 degree would possibly ship the value towards $168. If there’s a shut beneath the $168 help, the value might decline towards the $155 help within the close to time period.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining tempo within the bullish zone.

Hourly Hours RSI (Relative Energy Index) – The RSI for SOL/USD is above the 50 degree.

Main Assist Ranges – $180 and $176.

Main Resistance Ranges – $185 and $188.



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