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Home Market & Analysis

Solana (SOL) Poised for Takeoff — Bulls Prepare for Rally Reboot

n70products by n70products
May 12, 2025
in Market & Analysis
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Solana (SOL) Poised for Takeoff — Bulls Prepare for Rally Reboot
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Solana began a contemporary enhance above the $162 zone. SOL worth is now consolidating close to $175 and would possibly lengthen positive aspects above the $180 zone.

  • SOL worth began a contemporary upward transfer above the $155 and $162 ranges towards the US Greenback.
  • The value is now buying and selling beneath $165 and the 100-hourly easy transferring common.
  • There’s a short-term rising channel forming with assist at $172 on the hourly chart of the SOL/USD pair (information supply from Kraken).
  • The pair might begin a contemporary enhance if it clears the $176 resistance zone.

Solana Worth Consolidates Beneficial properties

Solana worth shaped a base above the $150 assist and began a contemporary enhance, like Bitcoin and Ethereum. SOL gained tempo for a transfer above the $155 and $162 resistance ranges.

Nevertheless, the bears have been lively beneath the $180 resistance zone. A excessive was shaped at $180.10 and the value corrected some positive aspects. The value dipped beneath $175 and $172. A low was shaped at $169.53 and the value is now making an attempt one other enhance.

There was a transfer above the 50% Fib retracement stage of the downward transfer from the $180 swing excessive to the $170 low. Solana is now buying and selling above $172 and the 100-hourly easy transferring common. There may be additionally a short-term rising channel forming with assist at $172 on the hourly chart of the SOL/USD pair.

On the upside, the value is dealing with resistance close to the $176 stage and the 61.8% Fib retracement stage of the downward transfer from the $180 swing excessive to the $170 low. The subsequent main resistance is close to the $180 stage.

Solana Price

The primary resistance may very well be $185. A profitable shut above the $185 resistance zone might set the tempo for an additional regular enhance. The subsequent key resistance is $192. Any extra positive aspects would possibly ship the value towards the $200 stage.

Draw back Correction in SOL?

If SOL fails to rise above the $176 resistance, it might begin one other decline. Preliminary assist on the draw back is close to the $172 zone. The primary main assist is close to the $170 stage.

A break beneath the $170 stage would possibly ship the value towards the $162 zone. If there’s a shut beneath the $162 assist, the value might decline towards the $150 assist within the close to time period.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining tempo within the bullish zone.

Hourly Hours RSI (Relative Energy Index) – The RSI for SOL/USD is above the 50 stage.

Main Assist Ranges – $172 and $170.

Main Resistance Ranges – $176 and $180.



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Tags: BullsPoisedprepareRallyRebootSOLSolanaTakeoff
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