Solana’s price is blazing past $240, back above $2500, and aiming for $262. It’s like the stock market’s version of a wild west show!
- SOL‘s price is on a tear, surging past $240 and $250 like a horse in a rodeo.
- Now trading above $250 and the 100-hourly simple moving average, it’s like the bulls are leading a parade.
- Breaking above a key bearish trend line at $245? More like the bulls just kicked the bears’ butts.
- If the bulls clear $262, watch out! It’s like they’re aiming for the moon.
Solana Price Reclaims $250: A Bull’s Triumph
Solana formed a base above $225 and started climbing like a rocket, joining Bitcoin and Ethereum in the sky high club. SOL even managed to climb above $235 and $240, like it was just a warm-up.
Breaking above a key bearish trend line at $245? It’s like Solana just told the bears, “Nice try, losers!” It even cleared the 50% Fib retracement level, which is like crossing the finish line in a race.
Solana is now trading above $250 and the 100-hourly simple moving average. On the upside, it’s facing resistance near $262, or the 76.4% Fib retracement level. It’s like the bulls are just getting started.
The next major resistance is near $272, the main resistance could be $280. A successful close above $280 could set the pace for another steady increase. The next key resistance is $292, any more gains might send the price toward the $300 level. It’s like the bulls are on a mission!
Another Decline in SOL? Not So Fast!
If SOL fails to rise above $262, it could start another decline. Initial support on the downside is near $250 and the 100-hourly simple moving average. It’s like the bulls are taking a breather.
The first major support is near $240, a break below $240 might send the price toward the $230 zone. If there is a close below $230 support, the price could decline toward the $215 support in the near term. It’s like the bulls are watching their step.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone. It’s like the bulls are revving their engines.
Hourly RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. It’s like the bulls are feeling pretty good about themselves.
Major Support Levels – $250 and $240. It’s like the bulls are setting up camp.
Major Resistance Levels – $262 and $272. It’s like the bulls are eyeing the next hill to climb.
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2025-01-22 08:10