{"id":419,"date":"2024-10-14T07:00:15","date_gmt":"2024-10-14T07:00:15","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/solana-sol-reclaims-150-is-the-rally-back-on\/"},"modified":"2024-10-14T07:00:15","modified_gmt":"2024-10-14T07:00:15","slug":"solana-sol-reclaims-150-is-the-rally-back-on","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/solana-sol-reclaims-150-is-the-rally-back-on\/","title":{"rendered":"Solana (SOL) Reclaims $150: Is The Rally Back On?"},"content":{"rendered":"<p><em>Solana climbed higher above the $140 resistance zone. SOL price is rising and might gain bullish momentum if it clears the $155 resistance.<\/em><\/p>\n<ul>\n<li>SOL price is attempting a fresh increase above the $142 pivot level against the US Dollar.<\/li>\n<li>The price is now trading above $148 and the 100-hourly simple moving average.<\/li>\n<li>There is a key bullish trend line forming with support at $147.50 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 $155 resistance zone.<\/li>\n<\/ul>\n<h2>Solana Price Regains Traction<\/h2>\n<p>Solana price climbed above the $138 and $140 levels. SOL gained pace after there was a close above the $145 resistance level, like Bitcoin and Ethereum. Finally, the bulls pushed the price above the $150 level.<\/p>\n<p>A high was formed at $153.22 and the price is now consolidating gains. There was a minor pullback below the $152 level. The price tested the 23.6% Fib retracement level of the upward move from the $144.40 swing low to the $153.22 high.<\/p>\n<p>Solana is now trading above $145 and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $147.50 on the hourly chart of the SOL\/USD pair.<\/p>\n<p>On the upside, the price is facing resistance near the $153.50 level. The next major resistance is near the $155 level. The main resistance could be $158.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-647801 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Solana_957b89.png?resize=1024%2C449\" alt=\"Solana Price\" width=\"1024\" height=\"449\" loading=\"lazy\" \/><\/p>\n<p>A successful close above the $155 and $158 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 $155 resistance, it could start another decline. Initial support on the downside is near the $150 level. The first major support is near the $147.50 level or the trend line. It is close to the 61.8% Fib retracement level of the upward move from the $144.40 swing low to the $153.22 high.<\/p>\n<p>A break below the $147.50 level might send the price toward the $144.50 zone. If there is a close below the $144.50 support, the price could decline toward the $138 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 $147.50 and $144.40.<\/p>\n<p>Major Resistance Levels \u2013 $155 and $162.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana climbed higher above the $140 resistance zone. SOL price is rising and might gain bullish momentum if it clears the $155 resistance. SOL price is attempting a fresh increase above the $142 pivot level against the US Dollar. The price is now trading above $148 and the 100-hourly simple moving average. There is a&hellip;<\/p>\n","protected":false},"author":1,"featured_media":420,"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-419","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\/419","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=419"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/419\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/420"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}