Solana (SOL) Reclaims $150: Is The Rally Back On?

Solana climbed higher above the $140 resistance zone. SOL price is rising and might gain bullish momentum if it clears the $155 resistance.

Solana (SOL) price climbed above the $140 resistance zone on Monday. Now, SOL might gain bullish momentum if it clears the $155 resistance. Key technical points:

Solana (SOL) price climbed above the $140 resistance zone on Monday. Now, SOL might gain bullish momentum if it clears the $155 resistance. Key technical points:

Solana price showcases a continuous rise after bouncing from the $138 support.

Solana price showcases a continuous rise after bouncing from the $138 support.

The bullish trend might face resistance at the $155 level.

The bullish trend might face resistance at the $155 level.

A morning star pattern on the lower time frame chart adds bullish confirmation.

A morning star pattern on the lower time frame chart adds bullish confirmation.

Past Performance of SOL

Past Performance of SOL

Solana price began the week with a bullish note as the price breached the upper boundary of the Bollinger Bands on Monday. After bouncing from the $138 support last week, SOL price gained pace. Now, the bullish trend might face resistance at the $155 level.

Solana price began the week with a bullish note as the price breached the upper boundary of the Bollinger Bands on Monday. After bouncing from the $138 support last week, SOL price gained pace. Now, the bullish trend might face resistance at the $155 level.

On the other hand, the Relative Strength Index (RSI) indicator shows bullish momentum as the RSI line trades above the 50% mark. Moreover, a morning star pattern on the lower time frame chart adds bullish confirmation to the price action.

On the other hand, the Relative Strength Index (RSI) indicator shows bullish momentum as the RSI line trades above the 50% mark. Moreover, a morning star pattern on the lower time frame chart adds bullish confirmation to the price action.

Solana Technical Analysis

Solana Technical Analysis

As mentioned above, the price action showcases a continuous rise after bouncing from the $138 support. From the technical perspective, this bullish trend might face resistance at the $155 level. Moreover, the Fibonacci extension levels also show resistance at the same price mark.

As mentioned above, the price action showcases a continuous rise after bouncing from the $138 support. From the technical perspective, this bullish trend might face resistance at the $155 level. Moreover, the Fibonacci extension levels also show resistance at the same price mark.

In case of a breakout from the $155 level, the price might rally to hit the next resistance at the 100% Fib extension levels, around the $162 mark. From there on, the morning star pattern on the lower time frame also projects a bullish target around the $175 level.

In case of a breakout from the $155 level, the price might rally to hit the next resistance at the 100% Fib extension levels, around the $162 mark. From there on, the morning star pattern on the lower time frame also projects a bullish target around the $175 level.

On the flip side, if the buyers fail to keep up the bullish momentum, the price might correct lower to find support at the 23.6% Fib retracement level, around the $147.50 level. A further跌势跌至138美元支撑位附近。

On the flip side, if the buyers fail to keep up the bullish momentum, the price might correct lower to find support at the 23.6% Fib retracement level, around the $147.50 level. A further decline fell to near the $138 support level.

Technical Indicator Movements

Technical Indicator Movements

Hourly MACD – The MACD (Moving Average Convergence Divergence) for SOL/USD is gaining pace in the bullish zone.

Hourly MACD – The MACD (Moving Average Convergence Divergence) for SOL/USD is gaining pace in the bullish zone.

Hourly RSI – The RSI (Relative Strength Index) for SOL/USD is above the 50 level.

Hourly RSI – The RSI (Relative Strength Index) for SOL/USD is above the 50 level.

Major Support Levels – $147.50 and $144.40.

Major Support Levels – $147.50 and $144.40.

Major Resistance Levels – $155 and $162.

Major Resistance Levels – $155 and $162.