$SOL Live Bitcoin News Analytics ➡️

SOL price attempted more upsides above the $100 resistance zone. The price climbed above the $106 zone, but the bears were active near the $115 zone.

A high was formed near $115.17 before there was a downside correction. The price declined below the $112 support zone. The bears were able to push the price below the 23.6% Fib retracement level of the upward wave from the $103.43 swing low to the $116.17 high.

It is now trading above $115 and the 55 simple moving average (4 hours). On the downside, initial support is near the $110 level. There is also a key bullish trend line forming with support at $109 on the 4-hour chart of the SOL/USD pair. The trend line is close to the 50% Fib retracement level of the upward wave from the $103.43 swing low to the $116.17 high.

The next major support is near the $106 level. A downside break below the $106 support level might spark a sharp decline. In the stated case, the price may perhaps decline toward the $92 level. Any more losses might call for a test of $85.

On the upside, immediate resistance is near the $112 level. The next major resistance is near the $115 zone. Any more gains might send SOL price toward the $125 resistance zone, above which the price could accelerate higher. The next major resistance sits near the $132 level.