• Solana (SOL) price started a decent increase above the $21.50 resistance against the US Dollar.
• There is a major bullish trend line forming with support near $22.30 on the 4-hours chart of the SOL/USD pair.
• The pair must clear $24.00 and $25.00 to continue higher in the near term.
Solana (SOL) Price Analysis
Solana price is trading above $22 against the US Dollar, similar to bitcoin. SOL could start a strong increase if it clears the $24 resistance.
Key Support Levels
The key support levels for Solana are at $22.30 and $21.40.
Key Resistance Levels
The key resistance levels are at $24,00, 25,00, and 26,80 respectively.
Trend Line Formation
There is a major bullish trend line forming with support near $22.30 on the 4-hours chart of the SOL/USD pair (data feed from Coinbase). This trend line indicates that there may be more gains possible if it crosses above this level and breaks out of current resistance area at 24$.
Conclusion
Overall, Solana must clear both resistances at 24$ and 25$ in order to continue its upward trajectory in the near future..
