{"id":940,"date":"2024-08-26T05:58:39","date_gmt":"2024-08-26T05:58:39","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=940"},"modified":"2024-08-26T05:58:39","modified_gmt":"2024-08-26T05:58:39","slug":"solana-price-sol-could-spark-another-rally-by-clearing-162","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=940","title":{"rendered":"Solana Price (SOL) Could Spark Another Rally by Clearing $162"},"content":{"rendered":"

Solana started a fresh increase above the $150 resistance. SOL price could rally further if there is a clear move above the $162 resistance.<\/em><\/p>\n

SOL price started a fresh upward move above the $150 and $155 levels the US Dollar.
\nThe price is now trading above $155 and the 100-hourly simple moving average.
\nThere is a key bullish trend line forming with support at $158 on the hourly chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could start another increase if it clears the $162 resistance zone.<\/p>\n

Solana Price Regains Strength Above $155<\/h2>\n

Solana price started a fresh increase above the $150 resistance level. SOL remained stable and gained pace for a move above the $155 resistance level. It even cleared the $160 resistance level, beating Ethereum<\/a> and Bitcoin<\/a>.<\/p>\n

The price traded as high as $162 and is currently consolidating gains. There was a minor correction below the $160 level. The price tested the 23.6% Fib retracement level of the upward move from the $138 swing low to the $162 swing high.<\/p>\n

Solana is now trading well above $150 and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $158 on the hourly chart of the SOL\/USD pair.<\/p>\n

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

On the upside, the price is facing resistance near the $162 level. The next major resistance is near the $165 level. A successful close above the $162 and $165 resistance levels could set the pace for another steady increase. The next key resistance is near $178. Any more gains might send the price toward the $184 level.<\/p>\n

Are Dips Limited in SOL?<\/h2>\n

If SOL fails to rise above the $162 resistance, it could start a downside correction. Initial support on the downside is near the $158 level and the trend line. The first major support is near the $155 level.<\/p>\n

A break below the $155 level might send the price toward $148 or the 61.8% Fib retracement level of the upward move from the $138 swing low to the $162 swing high. If there is a close below the $148 support, the price could decline toward the $135 support in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for SOL\/USD is gaining 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 $158 and $155.<\/p>\n

Major Resistance Levels \u2013 $162 and $165.<\/p>","protected":false},"excerpt":{"rendered":"

Solana started a fresh increase above the $150 resistance. SOL price could rally further if there is a clear move above the $162 resistance. SOL price started a fresh upward move above the $150 and $155 levels the US Dollar. The price is now trading above $155 and the 100-hourly simple moving average. There is […]<\/p>\n","protected":false},"author":0,"featured_media":941,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-940","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\/940"}],"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=940"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/940\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/941"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}