🔥 Solana Hits $160 — Can Bulls Smash Through This Critical
VAV Crypto Research and Analytics
Updated at: 10 hours ago
{"content":"🔥 Solana Hits $160 — Can Bulls Smash Through This Critical Resistance?
Solana rose beyond $155 again. SOL is consolidating gains and may struggle to break $160.
SOL price rose over $150 and $155 versus the US Dollar.
The price is above $152 and the 100-hourly SMA.
The hourly SOL/USD chart shows a bullish trend line with support at $155.
The pair might rise again if it breaks $160 resistance.
Price of Solana Rises
Like Bitcoin and Ethereum, Solana price rose after breaking $152 barrier. SOL entered a short-term bullish zone over $155.
At $160 and $162, the pricing faces big obstacles. The price set a high at $159.24 and is consolidating gains above the 23.6% Fib retracement line of the $148 swing low to $160 high.
Above $155 and the 100-hourly simple moving average, Solana trades. On the hourly SOL/USD chart, a bullish trend line with support around $155 is formed.
Price is finding resistance at $160 on the upside. Near $162 is the next significant resistance. The primary obstacle may be $165. Close above $165 barrier might start another steady rise. The next hurdle is $178. More advances might push the price toward $185.
SOL Decline Again?
SOL might tumble again if it fails to break $160 barrier. Initial downside support is between $155 and the trend line. The first significant support is $152, the 61.8% Fib retracement level of the upward rise from the $148 swing low to the $160 high.
A fall below $152 might push the price near $145. If the price closes below $145, it may fall to $136.
Tech Indicators
SOL/USD hourly MACD is rising in the positive zone.
Hourly RSI – RSI for SOL/USD is over 50.
Major Support Levels: $155 and $152.
Major Resistance: $160, $162.
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