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NewsBTC 2025-04-29 05:58:14

Solana (SOL) Sideways But Bullish — Surge May Be Imminent

Solana started a fresh increase from the $142 support zone. SOL price is now consolidating and might climb further above the $155 resistance zone. SOL price started a fresh increase above the $140 and $142 levels against the US Dollar. The price is now trading above $145 and the 100-hourly simple moving average. There is a short-term contracting triangle forming with resistance at $152 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $155 resistance zone. Solana Price Consolidates Gains Solana price formed a base above the $135 support and started a fresh increase, like Bitcoin and Ethereum . SOL gained pace for a move above the $140 and $142 resistance levels. The pair even spiked toward the $155 resistance zone. A high was formed at $153.30 before there was a pullback. The price dipped below $150. A low was formed at $145 and the price started a consolidation phase above the 23.6% Fib retracement level of the downward move from $153.30 swing high to the $145.54 low. Solana is now trading below $152 and the 100-hourly simple moving average. There is also a short-term contracting triangle forming with resistance at $152 on the hourly chart of the SOL/USD pair. On the upside, the price is facing resistance near the $149.50 level. The next major resistance is near the $150 level. The main resistance could be $152 and the 76.4% Fib retracement level of the downward move from $153.30 swing high to the $145.54 low. A successful close above the $152 resistance zone could set the pace for another steady increase. The next key resistance is $155. Any more gains might send the price toward the $165 level. Downside Correction in SOL? If SOL fails to rise above the $150 resistance, it could start another decline. Initial support on the downside is near the $147 zone. The first major support is near the $145 level. A break below the $145 level might send the price toward the $138 zone. If there is a close below the $138 support, the price could decline toward the $132 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is losing pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $147 and $145. Major Resistance Levels – $150 and $155.

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