SOL Surges Past $150 — Can the Rally Continue?

By: bitcoinik|2025/05/02 19:30:02
0
Share
copy
Solana began a new rise from the $149 support zone. At present SOL price is holding steady and may reach further above the $154 resistance zone.Main Takeaways:-SOL price began a new rise above the $142 and $145 levels as opposed to the US dollar.At present, the price is trading above $150 and the 100-hourly simple moving average.There was an upward move through a critical bearish resistance at $149 on the hourly chart of the SOL/USD pair.The pair begins a new rise if it surpasses the $154 resistance level.SOL Price Stabilises Following UptrendSolana’s price developed a base over the $140 support and began a new rise, similar to Bitcoin and Ethereum. SOL showed momentum to climb over the $142 and $145 resistance levels.The price broke above a key downward trend line with resistance at $149 on the hourly chart for the SOL/USD pair. It even went above the $150 resistance level. The highest point reached was $153.90, and now the price is holding steady after the rise.The price dropped under the $152 level and reached the 23.6% Fib retracement level of the price increase from the $140 fluctuation low to the $154 peak. At present, Solana is trading over $150 and the 100-hourly simple moving average.If the price goes up, it’s running into some trouble around the $152 level. The next big challenge is around the $154 level, and the main one is at the $158 level. If the price manages to stay above the $158 level, it could continue rising steadily. After that, the next important level is $165, and if it keeps going, it might even reach the $180 level.Is Solana Facing a Downside Correction?If SOL fails to pass the $154 resistance, it will begin a new drop. The first support on the downside is close to the $150 zone. The first important support is close to the $147 level.A decline past the $147 level may push the price close to the $145 zone and the 50% Fib retracement level to the $154 peak. If there is any close under the $145 support, the price will drop in the direction of the $140 support in the short term.Technical Signals:-Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is presently greater than the 50 level.Hourly MACD (Moving Average Convergence Divergence) – The MACD for SOL/USD is presently increasing momentum in the bullish zone.$147 and $145 – Major Support Levels$154 and $158 – Major Resistance LevelsRead also:- $3 Billion Options Expiry Today with Bullish OutlookDisclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.

You may also like

Morning News | The draft amendment to the People's Bank of China Law aims to clarify the legal status of digital renminbi; South Korea will transfer about 40 unregistered virtual asset service providers to law enforcement agencies

Overview of Important Market Events on June 24

The cryptocurrency industry has entered the "Show Me" era: merely relying on vision is no longer enough

The awareness level of the audience in the cryptocurrency industry—including media, institutions, and retail investors—is steadily increasing, and this trend has become a foregone conclusion.

Interpreting the Ethereum Foundation's new structure: Reaffirming self-sovereignty amid institutional trends

The Ethereum Foundation has announced a new five-layer working framework, clarifying the focus of future development and reaffirming its commitment to decentralized core values amidst the wave of institutionalization.

Former SpaceX engineer reconstructs the financial execution system using first principles

Plan Execution Lab completes angel round financing for Singapore family office, with a valuation of 50 million USD.

Tidal Investment: We still have a positive outlook on the AI industry chain, but the reasons have changed

The intense financing by tech giants has triggered a panic of "AI peak," but the soaring capital expenditures of the five major cloud vendors and the bottlenecks in physical infrastructure indicate that the AI investment cycle is far from over; the second half of this grand performance has just begu...

Standard Chartered Bank sings a 50x rhapsody again, aiming for AAVE to reach 3500 USD

The throne of DeFi lending still exists, but the foundation beneath the throne needs to undergo a reconstruction or reinforcement.

Popular coins

Latest Crypto News

Read more
iconiconiconiconiconiconicon
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com