Solana (SOL) price prediction: Breaking through $172 could trigger a new round of rise.

Solana (SOL) has strongly rebounded from the support level at 162 USD, currently trading above 165 USD and the 100-hour moving average, with positive signals on the short-term technical front. The hourly chart shows that SOL/USD is forming a converging triangle pattern, with key resistance level at 172 USD. If it successfully breaks through, it could open up a rise towards 192 USD; conversely, if it gets hindered at 170 USD, a retest of the support levels at 162 or even 152 USD may occur. This article provides the latest price movement of SOL, key support and resistance levels, and interpretations of technical indicators.

SOL short-term technical analysis: Breakthrough at 165 USD, preparing to challenge key resistance level Solana price found support in the 162 USD area (synchronizing with Bitcoin and Ethereum) and initiated a new round of rebound. SOL successfully broke through the 165 USD and 166 USD levels, entering a short-term bullish area.

The bulls once pushed the price above the $168 resistance level and stood above the 50% Fibonacci retracement level from the swing high of $172 to the low of $162. However, the bears exerted pressure near the $170 level. Current key resistances include:

• 170 USD psychological barrier
• Strong resistance area at 172 USD (corresponding to the 76.4% Fibonacci retracement level)
• On the hourly chart, SOL/USD is forming a converging triangle pattern, with the upper resistance level around 168 USD.

SOL is currently trading above 165 USD and the 100-hour simple moving average, with a bullish technical structure. A decisive breakout above the 172 USD resistance will be an important bullish signal. If it breaks above 175 USD, it may establish a stronger upward trend, with the next key resistance looking towards 182 USD, and the sustained upward target could reach 192 USD.

Support and potential rebound risk below If SOL fails to effectively break through the 170 USD resistance, it may face a pullback pressure:

• First support level: 164 USD (recent consolidation zone lower edge)
• Key support level: 162 USD (recent Rebound starting point)
• If it loses the 162 USD level, the price may accelerate to fall towards the 152 USD support level.
• The important support level below is 150 USD. If the closing price falls below this level, it may further test 145 USD in the short term.

Technical Indicator Interpretation

• Hourly MACD: Located in the bullish zone, but the momentum bars show signs of contraction, indicating that short-term upward momentum is slightly weakening.
• Hourly RSI (Relative Strength Index): Operating above the 50 level, indicating that the market is still in a bullish atmosphere, but has not yet entered the overbought zone (\u003e70).

Key Support/Resistance Summary

• Main support levels: 164 USD, 162 USD
• Main resistance levels: 170 USD, 172 USD

【Conclusion】 SOL successfully held the key support level at 162 USD and rose above 165 USD and the 100-hour moving average, with the short-term technical structure leaning towards bullish. The current price faces resistance testing in the 168-170 USD range, and whether it can break above 172 USD will be crucial in determining the market direction. If it can forcefully break above 172 USD and stabilize above 175 USD, it is expected to initiate a new round of upward movement, targeting 182 and 192 USD. Conversely, if it continues to be hindered below 170 USD, one should be wary of the risk of a price pullback testing the support levels at 162 USD or even 152 USD. Traders should closely monitor the breakthrough of the 172 USD resistance, volume dynamics, and changes in the overall cryptocurrency market sentiment, flexibly devising short-term trading strategies in conjunction with technical indicator signals.