{"id":341,"date":"2024-10-11T06:00:16","date_gmt":"2024-10-11T06:00:16","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/solana-sol-could-regain-steam-is-a-fresh-rally-ahead\/"},"modified":"2024-10-11T06:00:16","modified_gmt":"2024-10-11T06:00:16","slug":"solana-sol-could-regain-steam-is-a-fresh-rally-ahead","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/solana-sol-could-regain-steam-is-a-fresh-rally-ahead\/","title":{"rendered":"Solana (SOL) Could Regain Steam: Is a Fresh Rally Ahead?"},"content":{"rendered":"<p><em>Solana tested the $135 support and recently corrected losses. SOL price is rising and might gain bullish momentum if it clears the $144 resistance.<\/em><\/p>\n<ul>\n<li>SOL price is attempting a fresh increase from the $135 zone against the US Dollar.<\/li>\n<li>The price is now trading below $145 and the 100-hourly simple moving average.<\/li>\n<li>There was a break above a key bearish trend line with resistance at $139 on the hourly chart of the SOL\/USD pair (data source from Kraken).<\/li>\n<li>The pair could gain bullish momentum if it breaks the $145 resistance zone.<\/li>\n<\/ul>\n<h2>Solana Price Aims Higher<\/h2>\n<p>Solana price climbed above the $146 and $148 levels before the bears appeared. SOL traded as high as $152 and recently saw a fresh decline like Bitcoin and Ethereum.<\/p>\n<p>The price declined below the $145 and $140 support levels. A low was formed at $135.39 and the price is now rising. There was a decent move above the $140 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $152 swing high to the $135.39 low.<\/p>\n<p>There was a break above a key bearish trend line with resistance at $139 on the hourly chart of the SOL\/USD pair. Solana is now trading below $145 and the 100-hourly simple moving average.<\/p>\n<p>On the upside, the price is facing resistance near the $144 level. It is close to the 50% Fib retracement level of the downward move from the $152 swing high to the $135.39 low. The next major resistance is near the $146 level. The main resistance could be $150.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-647401 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Solana_49f790.png?resize=1024%2C478\" alt=\"Solana Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>A successful close above the $150 and $152 resistance levels could set the pace for another steady increase. The next key resistance is near $162. Any more gains might send the price toward the $175 level.<\/p>\n<h2>Another Decline in SOL?<\/h2>\n<p>If SOL fails to rise above the $144 resistance, it could start another decline. Initial support on the downside is near the $138 level. The first major support is near the $134 level.<\/p>\n<p>A break below the $135 level might send the price toward the $132 zone. If there is a close below the $132 support, the price could decline toward the $120 support in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for SOL\/USD is gaining pace in the bullish zone.<\/p>\n<p>Hourly Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $138 and $135.<\/p>\n<p>Major Resistance Levels \u2013 $144 and $150.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana tested the $135 support and recently corrected losses. SOL price is rising and might gain bullish momentum if it clears the $144 resistance. SOL price is attempting a fresh increase from the $135 zone against the US Dollar. The price is now trading below $145 and the 100-hourly simple moving average. There was a&hellip;<\/p>\n","protected":false},"author":1,"featured_media":342,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[62],"tags":[174,121,251,177,129,76],"class_list":["post-341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technical-analysis","tag-sol","tag-solana","tag-solbtc","tag-solusd","tag-solusdt","tag-technical-analysis"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/341","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=341"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/341\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/342"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=341"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=341"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=341"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}