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Solana is surging above $20 towards the US Dollar. SOL value may prolong its rally above the $26 and $30 resistance ranges within the close to time period.

• Sol value began a contemporary improve above the $20 and $22 ranges towards the US Dollar.
• The value is now buying and selling above $22 and the 100 easy shifting common (4-hours).
• There is a serious bullish pattern line forming with help close to $23.05 on the 4-hours chart of the SOL/USD pair (knowledge supply from Kraken).
• The pair may rise additional if it stays above the $22.00 and $20.00 help ranges.

Solana Price Rallies Over 10%

This week, solana value shaped a base and began a gradual improve above the $20 degree. There was a robust improve above the $22 resistance zone, just like bitcoin and ethereum.

The bulls even managed to pump the worth above the $25 resistance. It traded to a brand new yearly excessive at $26.54 earlier than there was a minor draw back correction. There was a decline under the $24 degree. The value declined under the 50% Fib retracement degree of the upward wave from the $20.20 swing low to $26.54 excessive.

Sol value is now buying and selling above $22 and the 100 easy shifting common (4-hours). There can also be a serious bullish pattern line forming with help close to $23.05 on the 4-hours chart of the SOL/USD pair.

The pair is now buying and selling comfortably above the 61.8% Fib retracement degree of the upward wave from the $20.20 swing low to $26.54 excessive. The value is now rising and up over 8%. On the upside, an instantaneous resistance is close to the $25 degree.

Source: SOLUSD on TradingView.com

The first main resistance is close to the $26.50 degree. The subsequent main resistance is close to the $28 zone, above which the worth may rise in direction of the $30 barrier. Any extra good points may ship the worth in direction of the $35 degree.

Dips Attractive in SOL?

If SOL fails to clear the $26.50 resistance, it may begin a draw back correction. An preliminary help on the draw back is close to the $24 degree.

The first main help is close to the $23.00 degree and the pattern line. The subsequent main help is close to the $21.70 degree. If there’s a draw back break under the $21.70 help, the worth may check the subsequent key help at $20.

Technical Indicators

4-Hours MACD – The MACD for SOL/USD is gaining tempo within the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 degree.

Major Support Levels – $24, $23 and $20.

Major Resistance Levels – $25, $26.50 and $30.