SOL/USDT Analysis: A Bullish Continuation After Consolidation
The price of SOL has seen a 2.26% increase, reaching $160.03. On the hourly chart, we see clear support at $157 and resistance around $161.50.
The Bollinger Bands show widening, indicating increased volatility, while the 20-period moving average acts as a support.
Key indicators like RSI (Relative Strength Index) sit at 61, signaling a slight bullish momentum without being overbought, suggesting there's room for further upward movement. The MACD histogram remains near neutral, though slight bullish divergence is seen, and momentum might shift in the bulls' favor soon.
The Williams %R indicator shows the asset isnât yet overbought, meaning there could be more upside potential.
The overall trend looks promising as long as $157 holds as support. Keep an eye on the $161.50 level for a potential breakout towards the next significant resistance at $165.
