Solana Price Faces Uphill Task: Tough Road Ahead For SOL Bulls

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	405,427,054,784	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

405,427,054,784

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-20.15	-0.59%	3,374.45	3,374.45	3,374.46

Price Change

Price Change %

Current Price

Bid Price

Offer

-20.15

-0.59%

3,374.45

3,374.46

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,425.44	3,365.48	3,393.10	3,394.60	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,425.44

3,365.48

3,393.10

3,394.60

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	12:42:48	0.001778	3,374.45	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

12:42:48

0.001778

3,374.45

USD

Price x Volume	Volume	Base Symbol	Related Pairs
82,101,025.76	24,199.63	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

82,101,025.76

24,199.63

Solana Price Faces Uphill Task: Tough Road Ahead For SOL Bulls

17/06/2024 7:18am

NEWSBTC

Solana tested the $138 zone before it started a recovery wave. SOL price must clear the $150 and $155 resistance levels to start a steady increase. SOL price is eyeing an upside break above the $150 resistance against the US Dollar. The price is now trading above $145 and the 100-hourly simple moving average. There is a connecting bullish trend line forming with support at $146 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could clear the $152.50 resistance to start a short-term uptrend. Solana Price Eyes Steady Increase Solana price extended losses below the $150 level like Bitcoin and Ethereum. SOL even declined below the $142 support before the bulls appeared near the $138 level. A low was formed at $138.01 and the price recently started a decent recovery wave. The price was able to clear the $142 and $145 resistance levels. There was a move above the 50% Fib retracement level of the downward move from the $161.89 swing high to the $138.01 low. Solana price is now trading above $145 and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $146 on the hourly chart of the SOL/USD pair. Immediate resistance is near the $150 level. The next major resistance is near the $152.50 level or the 61.8% Fib retracement level of the downward move from the $161.89 swing high to the $138.01 low. A successful close above the $152.50 resistance could set the pace for another major increase. The next key resistance is near $156.50. Any more gains might send the price toward the $160 level. Another Decline in SOL? If SOL fails to rally above the $152.50 resistance, it could start another decline. Initial support on the downside is near the $145 level and the trend line. The first major support is near the $142 level, below which the price could test $138. If there is a close below the $132 support, the price could decline toward the $125 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 near the 50 level. Major Support Levels – $145, and $142. Major Resistance Levels – $152.50, $156.50, and $160.

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