{"id":5087,"date":"2024-09-10T05:08:50","date_gmt":"2024-09-10T05:08:50","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=5087"},"modified":"2024-09-10T05:08:50","modified_gmt":"2024-09-10T05:08:50","slug":"solana-price-sol-shows-strength-is-a-return-to-150-possible","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=5087","title":{"rendered":"Solana Price (SOL) Shows Strength: Is a Return to $150 Possible?"},"content":{"rendered":"

Solana started a recovery wave from the $120 zone. SOL price is rising and might aim for a move toward the $150 resistance level.<\/em><\/p>\n

SOL price started a recovery wave above the $125 level against the US Dollar.
\nThe price is now trading above $128 and the 100-hourly simple moving average.
\nThere is a connecting bullish trend line forming with support at $130 on the hourly chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could gain bullish momentum if it clears the $138 resistance zone.<\/p>\n

Solana Price Extends Losses<\/h2>\n

Solana price formed a support base above the $120 level and started a recovery wave like Bitcoin<\/a> and Ethereum<\/a>. SOL traded above the $125 and $128 resistance levels.<\/p>\n

The price even climbed above $132 and tested the key barrier at $138. A high was formed at $137 and the price is now consolidating gains. There was a minor decline below $135 and the 23.6% Fib retracement level of the upward move from the $120 swing low to the $137 high.<\/p>\n

Solana is now trading above $130 and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $130 on the hourly chart of the SOL\/USD pair.<\/p>\n

<\/a><\/p>\n

On the upside, the price is facing resistance near the $135 level. The next major resistance is near the $138 level. A successful close above the $135 and $138 resistance levels could set the pace for another steady increase. The next key resistance is near $142. Any more gains might send the price toward the $150 level.<\/p>\n

Another Decline in SOL?<\/h2>\n

If SOL fails to rise above the $138 resistance, it could start another decline. Initial support on the downside is near the $130 level and the trend line. The first major support is near the $126 level and the 61.8% Fib retracement level of the upward move from the $120 swing low to the $137 high.<\/p>\n

A break below the $126 level might send the price toward $120. If there is a close below the $120 support, the price could decline toward the $110 support in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for SOL\/USD is losing pace in the bullish zone.<\/p>\n

Hourly Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is above the 50 level.<\/p>\n

Major Support Levels \u2013 $130 and $126.<\/p>\n

Major Resistance Levels \u2013 $135 and $138.<\/p>","protected":false},"excerpt":{"rendered":"

Solana started a recovery wave from the $120 zone. SOL price is rising and might aim for a move toward the $150 resistance level. SOL price started a recovery wave above the $125 level against the US Dollar. The price is now trading above $128 and the 100-hourly simple moving average. There is a connecting […]<\/p>\n","protected":false},"author":0,"featured_media":5088,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5087","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/5087"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5087"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/5087\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/5088"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}