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༺ཌༀཉིUykha༃ༀད༻NewsBTC

Scott Matherson — Tue, 14 May 2024 17:00:28 +0000

As the Bitcoin price continues to fluctuate wildly, the question in every investor’s mouth right now is when the digital asset will find its bottom. For some, the bottom has already been met, while for others, there are still more price crashes to come. However, one analyst’s prediction in particular stands out and this is due to his track record of accurately calling the top of the market estrela bet:back in the 2021 bull market.

Crypto Expert Says Bitcoin Bottom Is In

Crypto expert Dave the Wave first came into prominence back in 2021 when he had accurately predicted the Bitcoin top. Given this, Dave’s analysis holds weight in the crypto market, so it is no surprise that his most recent prediction calling the Bitcoin bottom is making the rounds.

In the analysis which was posted on X (formerly Twitter), the crypto analyst points to a number of indicators that show that the estrela bet:Bitcoin bottom has already been reached. One of these is the MA?CD which the analyst reveals is still far off from the levels from the last bull market.

In addition to the MACD still trending below this level, the crypto expert points out that the crypto market is more mature than it was. Given this maturing market, Dave the Wave stated: “It wouldn’t at all surprise me to see something different develop, pattern-wise, over the longer time frame.�?/p>

The analyst suggests that the estrela bet:Bitcoin low is actually in, and given that the price had fallen to $57,000 a couple of weeks ago, Dave’s analysis suggests that that is a?s low as the price will go. If this holds, then it is possible that the Bitcoin price will not fall below $60,000 before it resumes its bull rally.

BTC Price Expectations Still Bullish

Despite the slow momentum that has plagued the estrela bet:Bitcoin price, investors continue to be bullish on the cryptocurrency. This is evidenced by the estrela bet:Bitcoin Fear & Greed Index main?taining a firm grip on the Greed territory, showing that investors are still willing to buy into the market.

Furthermore, predictions from crypto analysts such as Rekt Capital have shown expectations for further price increases. Rekt Capital predicts that the BTC price will still cross $100?,000 as long as the price is able to break above $63,000 and hold this l?evel.

However, elsewhere in social media, there is a change in tide for the estrela bet:BTC price as social?? sentiment begins to fall to bearish headwinds. Santiment, an on?-chain data aggregation platform, revealed that the Bitcoin social sentiment has seen a 14% drop in the last week.

༺ཌༀཉིeUjVX༃ༀད༻NewsBTC

Godspower Owie — Tue, 14 May 2024 16:00:25 +0000

Amidst the recent decline in estrela bet:Bitcoin’s price and the general cryptocurrency market, popular cryptocurrency analyst and enthusiast Titan o?f Crypto has highlighted the $61,500 price level as a crucial threshold to watch for the largest cryptocurrency.

Titan of Crypto analysis examines the aforementioned level as a pivotal point for Bitcoin that could determine the coin’s next price trajectory.

$61,500, A Level To Watch For Bitcoin

Today, May 14, BTC witnessed a sharp decline to nearly $61,500, demonstrating little momentum for a price recovery. While many would see this as a worrying development, Titan of Crypto considers it a noteworthy development. He sees this level as significant and is one to watch out for for Bitcoin.

The crypto expert further warns of an impending volatility in the market around estrela bet:Federal Reserve Chair Jerome Powell‘s speech later today. Thus, Titan of Crypto has urged the community to remember that it’s better to hold off on making decisions until after the BTC daily candle closes and until the next one confirms the previous one.

The post read:

Bitcoin $61,500 is the level to watch. Expect volatility in the markets around today’s Powell speech. In any case, remember it’s wiser to wait for the BTC daily candle close and confirmation with the following one before jumping to a conclusion.

Although the expert anticipates volatility for Bitcoin, he is confident that the crypto asset’s bull run is far from over, suggesting a movement on the upside is still possible.

According to Titan of Crypto, Bitcoin’s Risk-Adjusted Return Oscillator (RAR) indicator has recently moved into the overbought area. However, the analyst asserts that this does not call for alarm, given that Bitcoin took over eight months to peak following the development based on prev?ious bull cycles.

Looking at Bitcoin’s price action from the daily timeframe, the expert confirms that the digital asset is “looking good.” As a result, BTC is following the bullish target to unprecedented heights, specifically around $112,185. “This game is a zero-sum game where impatient people give their money to the patient,” he added.

Possible Retracement To $62,000

While Titan of Crypto anticipates a rally, Ali Martinez, another crypto, has estrela bet:predicted an early price retracement. The expert has highlighted the possibility for BTC to decline to $62,000 in th?e short term.

According to the analyst, the 4-hour chart’s 200 Exponential Moving Average (EMA) appears to be rejecting Bitcoin, whereas the TD Sequential indicator suggests a sell signal. Should the development be confirmed, Martinez expects BTC to drop to $62,000.

However, for BTC to witness an upward movement, it needs to maintain a 4-hour candlestick close above the $64,000 threshold. Thus, with the coin trading below the $62,000 level, Martinez’s prediction appears to have already manifested. At the time of writing, the coin was trading at $61,512, indicating about 1.98% in the past day. Its trading volume was up by 9.67%, while its market cap was down by 2.65% in the last 24 hours.

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Keshav Verma — Tue, 14 May 2024 15:00:24 +0000

On-chain data suggests demand for Bitcoin remains significant as newcomer whales in the sector have been scooping up 200,000 BTC every week.

Short-Term Holder Bitcoin Whales Have Continued To Accumulate Recently

As explained by CryptoQuant author Axel Adler Jr in a post on X, the demand among the short-term holder whales has decreased since the all-time h?igh, although it still continues to remain strong.

The “estrela bet:short-term holders” (STHs) refer to the Bitcoin investors who have been holding onto their coins since less than 155 days ago. This cohort includes the new investors in the market, as well as the fickle-minded traders who make moves often and don’t tend to HODL.

The investors who make it past the 155-day threshold are put inside the “estrela bet:long-term holders” (LTHs), which is a group that’s generally considered to reflect the resolute side of the sector.

In the context of the current discussion, the investors of interest aren’t the ordinary STHs, but rather the humongous entities called whales. Formally, these investors are defined as those holding more than 1,000 BTC i??n their wallets.

At the current exchange rate, this lower limit is worth $61.5 million, which is massive indeed. Whales can be influential beings on the network because of these large holdings, so their behavior can be something worth keeping an eye on. The STH whales would naturally correspond to the large holders who only bought within the past five months. Here is a chart that shows the trend in the exchange outflows being made by these new whales in the Bitcoin market over the last few years: As displayed in the above graph, the 7-day simple moving average (SMA) of the Bitcoin STH whale exchange outflows had spiked to pretty high levels earlier in the year, when the rally towards the new all-time high (ATH) price had taken place. Naturally, this spike would suggest demand for buying the cryptocurrency was high from new whale investors entering the space. At the peak, the indicator implied accumulation was occurring at the rate of a whopping 452,000 BTC per week. A part of this buying would correspond to the demand coming in from the spot exchange-traded funds (ETFs) – new investment vehicles for Bitcoin only approved at the start of this year that provide for an indirect way to invest into the asset in a format that may be preferrable for the more traditional investors. From the chart, it’s visible that the demand from the new whales has seen a clear decline in the period since the ATH, but accumulation nonetheless remains substantial as the STH whales are still potentially buying at a rate of around 200,000 BTC per week.

BTC Price

Bitcoin has continued to be stagnant recently as its price is trading around $61,600 right now, still very much inside the range.

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Scott Matherson — Tue, 14 May 2024 14:00:12 +0000

Tokyo-based Bitcoin exchange, Mt. Gox is preparing to estrela bet:release a substantial ?amount of Bitcoin (BTC) into the market, signaling the upcoming disbursement of payments to creditors who had been affected by its estrela bet:hack attack in 2011.

Mt. Gox Set To Release 142,000 Bitcoin Into Market

Reports from Reddit reveal that the Kraken Bitcoin (BTC) and Bitcoin Cash (BCH) API interface have signaled that Mt. Gox is gett?ing ready to release its substantial cryptocurrency and fiat holdings, which include 142,000 BTC and 143,000 BCH, and 69 billion yen.

As of May 13, the interface began reading “payment in preparation,�?indicating that funds would soon be distributed to creditors. The date for the anticipated disbursement has also been estrela bet:slated for October 31, 2024.

This decision comes after years of undergoing legal proceedings and negotiations aimed at estrela bet:reimbursing creditors who lost?? funds following the Bitcoin exchange’s crash. Earlier in 2011, Mt. Gox was hacked, resulting in the loss of 850,000 BTC now worth over $51 billion. Shortly after the unfortunate attack, Mt. Gox filed for bankruptcy and has since been gathering funds to compensate creditors.

Reports from a few customers have revealed that the estrela bet:exchange has begun distributing funds in fiat currency. One particular Reddit user estrela bet:disclosed earlier in April, that he had received USD payments into an HSB??C currency account with zero fees.

While the long-awaited distribution process comes as great news to creditors, the release of such a large amount of Bitcoin could have a significant effect on the current Bitco?in market.

Additionally, estrela bet:discussions about whether creditors would sell or retain their Bitcoin holdings once they receive their funds have been circulating. Nonetheless, the estrela bet:disbursement process presents a step towards closure and recovery for victims of the exchange’s hack and ban??kruptcy.

Will Creditors Sell Or Hold?

With the estrela bet:Bitcoin market presently in a fragile position after experiencing a series of declines following the halving event on April 20, the possibility of a estrela bet:large-scale sell-off could lead to drastic changes ??in the market, potentiall?y resulting in a crash.

Commenting on Mt. Gox’s 142,000 BTC distribution plans, a Reddit community member estrela bet:suggested that the exchange’s upcoming repayments could? become a catalyst for the next BTC dump in 2024.

In response, another Reddit user estrela bet:expressed doubt about the likelihood of a widespread sell-off, especially at the beginning of the bull market. The user surmised that investors who have been waiting for estrela bet:Mt. Gox’s payments for over a decade ar??e unlikely to sell off?? their Bitcoin holdings quickly.

Instead, he suggested that many creditors, like himself, would be more inclined to HODL their Bitcoin holdings, having acquired a deeper understanding of the pioneer cryptocurrency during the decade-long wait.

꧁༺๑OlzSZ๑༻꧂NewsBTC

Christian Encila — Tue, 14 May 2024 12:30:32 +0000

Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization, has been estrela bet:a rollercoaster ride for investors lately. After dipping below $2,820, it surged to over $3,200, only to retrace some of those gains??. However, analysts remain optimistic, citing technical indicators and a key regulatory decision on the horizon as pot??ential catalysts for a near-term price increase.

Ethereum Price Poised For A Breakout?

Technical analysts are pointing to bullish signals suggesting a potential bounce back for Ethereum. Analyst Titan Of Crypto believes a successful “Bullish Cypher Pattern” has played out, with all projected targets met. Currently, Ethereum sits at a pivotal support level, the 38.2% Fibonacci retracement, often seen as a springboard for upward momentum in bull markets.

estrela bet:#Altcoins estrela bet:#Ethereum Bounce incoming.

The Bullish Cypher Pattern played out perfectly and all the targets got reached .#ETH is currently at the 38.2% Fibonacci retrace level also called “1st stop”. In a bull market this level holds.

I expect a bounce from this level. estrela bet:pic.twitter.com/o9e6VLEREz

�?Titan of Crypto (@Washigorira) estrela bet:May 12, 2024

This level has historically acted as a crucial support zone, says Titan. An optimistic outlook anticipates a price rebound from here. Adding to the bullish sentiment, analyst JACKIS emphasizes the significance of Ethereum’s recent surge above $4,000 in March. This, according to JACKIS, represents a significant shift in the market structure towards a long-term uptrend.

THE GIGANTIC CRASH for #ETH isn’t coming

Here is a reality check: We are in a big HTF range for estrela bet:#Ethereum and with the push to 4K in March we have broken market structure to the upside

Also, the local Weekly MS leading into it remains bullish, marked on the chart with HL�?estrela bet:pic.twitter.com/QisXiDUXxr

�?JACKIS (@i_am_jackis) estrela bet:May 13, 2024

The SEC Decision: A Potential Game Changer

The price of Ethereum could receive a significant boost from an upcoming decision by the U.S. Securities and Exchange Commission (SEC). By May 25th, the SEC is expected to rule on three applications forestrela be?t: Ethe?reum-based Exchange-Traded Funds (ETFs).

A green light from the SEC for these ETFs would open the door for institutional investment into Ethereum, potentially leading to a surge in demand and price. Conversely, a rejection could dampen investor sentiment and trigger a pullback.

Local Market Structure Hints At Underlying Bullishness A closer look at Ethereum’s weekly chart reveals a bullish undercurrent despite the recent price dip. The presence of higher lows and higher Highs throughout the past few weeks indicates a healthy uptrend, with the current pullback seen as a natural consolidation phase.

Featured image from defense.gov, chart from TradingView

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Jake Simmons — Tue, 14 May 2024 11:00:02 +0000

The US Consumer Price Index (CPI) data, set to be released tomorrow, May 15 (Wednesday), at 8:30 am ET, is anticipated to be a potentially significant catalyst for the Bitcoin price. This expectation stems particularly from Bitcoin’s recent trend of responding to macroeconomic news, indicating a heightened sensitivity to such data in influencing its market dynamics.

The CPI measures inflation by tracking changes in the price levels of a market basket of consumer goods and services. The upcoming report is of particular interest following three consecutive months where estrela bet:inflation data exceeded market expectations. Analysts currently project a slight moderation in infla??tion rates for April, which could have consequential implicat??ions for monetary policy and financial markets.

CPI Preview: What To Expect

For April, economists expect the CPI to show a year-on-year increase of 3.4%, a slight deceleration from March’s 3.5%. On a month-to-month basis, the increase is anticipated to slow to 0.3% compared to 0.4% previously. The core CPI, which strips out the more volatile costs of food and energy, is also expected to reflect a similar downtrend. The forecast suggests a drop from 3.8% to 3.6% on a year-on-year basis, marking the lowest annual core inflation rate since April 2021. Similarly, the monthly increase in core CPI is expected to decelerate to 0.3% from the previous month’s 0.4%.

Goldman Sachs economists estrela bet:anticipate that the core CPI will continue to show disinflationary trends in the coming months, forecasting monthly core CPI inflation to hover between 0.25% and 0.30% before decreasing to about 0.2% by the end of 2024. The year-over-year core CPI is projected to stabilize at 3.5%, and core Personal Consumption Expenditures (PCE) inflation, another estrela bet:key indicator watched by the Federal Reserve, is expected at 2.7% by D??ecember 2024.

The CPI data typically plays a significant role in influencing market dynamics, more so than the Producer Price Index (PPI). However, the real implications for financial markets will likely emerge once analysts review both the CPI and PPI reports. Notably, today (at 8:30 am ET) is a rare occasion where US PPI data is released the day prior to CPI data. “PPI + CPI data have a very strong correlation. PPI leading the way for CPI numbers historically. Thus expect the market to react more significantly than usual on any miss on expectations,�?renowned crypto analyst Ted (@tedtalksmacro) warned today.

Today is a rare occasion where US PPI data is released the day prior to CPI data. PPI + CPI data have a very strong correlation. PPI leading the way for CPI numbers historically.
Thus expect the market to react more significantly than usual on any miss on expectations. estrela bet://t.co/BVlHuBMI1x estrela bet:pic.twitter.com/BCCpZac6ZW

— ted (@tedtalksmacro) estrela bet:May 14, 2024

How Will Bitcoin React?

The Bitcoin and crypto markets have shown notable sensitivity to inflation figures and the estrela bet:US Federal Reserve policy over the past months. Ted h?ighlighted the importance of the upcoming inflation data, indicating that a slowdown in inflation could bolster risk assets like Bitcoin.

He stated via X:

Inflation data is centre-stage.[…] Expect volatility, however, this is the first time in a little while where we are likely to see inflation data slow. That’ll be good for risk assets like Bitcoin if true and we could be on the verge of leg higher there.

This sentiment is echoed by Alex Krüger (@krugermacro), who succinctly captured the market’s sentiment: “CPI in line or soft: higher, CPI hot: lower, BTC is back to trading macro news.” This perspective underscores the prevailing market theory that softer inflation could lead to more accommodative monetary policies, which are typically favorable for risk assets like Bitcoin.

At press time, BTC traded at $61,628.

༺ཉི།FVcDX།ཉྀ༻NewsBTC

Christian Encila — Tue, 14 May 2024 09:00:56 +0000

The native token of the Telegram-connected Open Network, Toncoin (TON), has outperformed Bitcoin (BTC) despite the recent market turbulence. Bitcoin fell by 3% over the last week, while TON increased by nearly 20%. Within the cryptocurrency world, this unexpected outperformance has set off a wild speculating frenzy. Will TON’s rapid ascent continue, or is this merely a passing blip?

Social Buzz Fuels The Toncoin Engine

One key factor behind TON’s recent success appears to be a surge in social media activity. Social volume, a metric that tracks discussions and mentions on platforms like Twitter and Telegram, has skyrocketed by over 20% compared to the previous week. This suggests a growing interest in TON, potentially attracting new investors and driving up the price.

With #bearish sentiment high, #crypto markets have continued to slip over the past week. Overall, the market has dropped -3.6%, and volume is -27% lower than the previous week. $TON, $KAS, $RUNE, and $AKT have kept traders hopeful. estrela bet://t.co/E6b2DtmAxI estrela bet:pic.twitter.com/VoiCJk1ymh

�?Santiment (@santimentfeed) estrela bet:May 13, 2024

Investor Sentiment: A Mixed Bag For TON

However, a closer look reveals a potential wrinkle in this optimistic outlook. While the overall sentiment surrounding TON has been positive, it has recently dipped into negative territory. This could be a sign of growing investor apprehension, as some may be worried about the sustainability of the current price rally. Accumulation Signals: Are Investors Betting Big On Toncoin? On the other hand, some metrics point towards potential long-term bullishness. The mean dollar invested age, an indicator of how long tokens have been held, has been gradually increasing. This suggests that investors are holding onto their TON, potentially with an eye on future gains. Additionally, the dormant circulation, representing tokens that haven’t been moved in a while, has remained low. While a previous spike coincided with a price peak, the current stability could indicate a more strategic accumulation by investors. Technical Analysis: Eyes On The Prize For Toncoin

Technical analysts, who study price charts and historical data to predict future movements, are also cautiously optimistic about TON. Fibonacci retracement levels, a popular technical tool, suggest the recent downtrend may be nearing its end. This could pave the way for TON ?to climb towards target??s near $10, with potential profit-taking opportunities for investors.

A Marathon, Not A Sprint While the recent surge in price and social media buzz paints a promising picture for TON, it’s crucial to remember that the cryptocurrency market remains highly volatile. The current uptrend for TON could be the beginning of a long-term ascent, fueled by growing adoption and a thriving ecosystem within the Telegram network. However, it’s also possible that this is just a short-lived rally, followed by a correction.

Featured image from Medjan, chart from TradingView

꧁༺pboSb༻꧂NewsBTC

Jake Simmons — Tue, 14 May 2024 08:00:27 +0000

Worldcoin (WLD) has seen its value plummet by nearly 9% in just 24 hours, with the price settling at around $5.20. This decline aligns with a critical analysis issued by DeFi^2 (@DefiSquared), the current top trader on the crypt exchange Bybit, who has raised concerns about the potential ??for substantial inflationary pressures and misleading marketing associated with Worldcoin.

Notably, the WLD plunge comes just after OpenAI, the creator of ChatGPT, announced on Monday its plans to unveil a cutting-edge AI model named GPT-4o. This advanced model boasts the ability to engage in lifelike voice conversations and seamlessly interact across text and images. Worldcoin is usually a beneficiary of OpenAI announcements, but this time WLD price plunged.

Why Worldcoin Is Plummeting

In his analysis shared on X, DeFi^2 expounded on the mechanics behind the rapid devaluation of Worldcoin, emphasizing that the token is suffering from significant daily depreciation due to both emissions and strategic sales maneuvers by the Worldcoin Foundation. Specifically, the token’s value is deteriorating at a rate of 0.6% each day, driven by the emissions related to grant and operator claims. These tokens, as per DeFi^2’s observation of on-chain analytics, are predominantly sold off almost immediately upon issuance, adding to the downward pressure on Worldcoin’s price. Adding to the supply concerns, the Worldcoin Foundation recently declared its intention to offload $200 million worth of Worldcoin to trading firms. This move will effectively increase the circulating supply by an additional 18%. DeFi^2 criticized this decision, pointing out that the tokens, misleadingly attributed to a “Community” allocation, are being sold at a discount to entities that may not prioritize the broader community’s interests, potentially diluting the value for existing holders. The most critical issue highlighted by DeFi^2, however, pertains to the near future, when unlocks for venture capital and team-related tokens are set to begin. He forecasts that in just 70 days, the supply of Worldcoin will start to inflate at an alarming rate of 4% per day due to these unlocks combined with ongoing emissions. This scenario could unleash nearly $50 million worth of sell pressure daily, profoundly impacting the token’s market price and stability.

DeFi^2’s analysis did not shy away from addressing the perceived misconceptions surrounding Worldcoin’s affiliation with notable tech personalities and organizations. He clarified thatestrela bet: Sam Altman, known for his role with OpenAI, has no active involvement with Worldcoin, which operates as a completely separate entity. This point addresses a? common misconception that potentially misled investors about the nature and backing of the token.

Moreover, DeFi^2 drew parallels between Worldcoin’s tokenomics and what he describes as “predatory” economic models that are engineered to disproportionately benefit early investors and insiders at the expense of general retail investors. He noted that similar strategies had been used in the past in the crypto industry, where the manipulation of token supply and market conditions facilitated significant gains for insiders while leaving regular investors exposed to heightened risks and losses.

“Worldcoin realistically might become the greatest transfer of wealth of this entire cycle. Unfortunately, this wealth transfer isn’t in the form of universal basic income as their mission suggests, but instead to the pockets of the team and insiders,�?DeFi^2 stated. He added that “the manipulative low float / high FDV design is straight out of the estrela bet:SBF playbook, and directly enriches insiders as they hedge their locked allocations at high valuations pre-unlock via perps / OTC; yet retail somehow sadly still think they’re beating the system trying to push the price up.�?/p> As the crypto community digests DeFi^2’s stark warnings, the immediate reaction has been a surge in trading activity to $666 million (up 104% in the last 24 hours), with investors and speculators likely reassessing their positions in Worldcoin in light of these revelations. At press time, WLD traded at $5.24.

꧁༺FDomB༻꧂NewsBTC

Aayush Jindal — Tue, 14 May 2024 06:58:30 +0000

Chainlink’s LINK price is struggling to surpass the $13.80 resistance. The price could continue to move down if it breaks the $13.00 support.

Chainlink price is showing bearish signs below the $14.00 resistance against the US dollar.
The price is trading below the $13.60 level and the 100 simple moving average (4 hours).
There is a key bearish trend line forming with resistance near $13.50 on the 4-hour chart of the LINK/USD pair (data source from Kraken).
The price could start a decent increase if it clears the $13.80 resistance zone.

Chainlink (LINK) Price Turns Red

In the past few days, Chainlink saw a steady decline from well above the $13.80 level. LINK price declined below the $13.50 support level to enter a short-term bearish zone, like Bitcoin and Ethereum.

The price tested the $13.10 support zone. A low was formed at $13.07 and the price recently attempted a recovery wave. There was a move above the $13.50 level. It even jumped above the 23.6% Fib retracement level of the downward move from the $14.30 swing high to the $13.07 low. However, the bears were active below the $13.80 resistance and the 50% Fib retracement level of the downward move from the $14.30 swing high to the $13.07 low. LINK price is still trading below the $13.80 level and the 100 simple moving average (4 hours). Immediate resistance is near the $13.50 level. There is also a key bearish trend line forming with resistance near $13.50 on the 4-hour chart of the LINK/USD pair. The next major resistance is near the $13.80 zone. A clear break above $13.80 may possibly start a steady increase toward the $14.00 level. The next major resistance is near the $14.35 level, above which the price could test $15.50.

More Losses?

If Chainlink’s price fails to climb above the $13.50 resistance level, there could be a fresh decline. Initial support on the downside is near the $13.10 level. The next major support is near the $12.80 level, below which the price might test the $12.20 level. Any more losses could lead LINK toward the $11.50 level in the near term. Technical Indicators 4 hours MACD �?The MACD for LINK/USD is gaining momentum in the bearish zone. 4 hours RSI (Relative Strength Index) �?The RSI for LINK/USD is now below the 50 level. Major Support Levels �?$13.10 and $12.80. Major Resistance Levels �?$13.50 and $13.80.

༺ཌༀbfKXJༀད༻NewsBTC

Aayush Jindal — Tue, 14 May 2024 06:28:15 +0000

Solana started a fresh increase above the $142 resistance. SOL price is up nearly 8% and might continue to rise if it clears the $150 resistance.

SOL price recovered higher and tested the $150 resistance against the US Dollar.
The price is now trading above $1452 and the 100 simple moving average (4 hours).
There was a break above a key bearish trend line with resistance at $144 on the 4-hour chart of the SOL/USD pair (data source from Kraken).
The pair could clear the $150 resistance unless it fails to stay above $146.

Solana Price Eyes More Upsides

Solana price formed a support base near the $138 level and started a fresh increase. SOL outperformed Bitcoin and Ethereum and moved into a positive zone above th?e $144 le??vel.

There was a break above a key bearish trend line with resistance at $144 on the 4-hour chart of the SOL/USD pair. The pair even cleared the 50% Fib retracement level of the downward wave from the $154.40 swing high to the $138.00 low. However, the bears are active near the key hurdle at $150. Solana is now trading above $145 and the 100 simple moving average (4 hours). Immediate resistance is near the $150 level or the 76.4% Fib retracement level of the downward wave from the $154.40 swing high to the $138.00 low. The next major resistance is near the $155 level. A successful close above the $155 resistance could set the pace for another major increase. The next key resistance is near $162. Any more gains might send the price toward the $175 level.

Another Decline in SOL?

If SOL fails to rally above the $150 resistance, it could start another decline. Initial support on the downside is near the $146 level and the 100 simple moving average (4 hours). The first major support is near the $142 level, below which the price could test $138. If there is a close below the $138 support, the price could decline toward the $125 support in the near term. Technical Indicators 4-Hours MACD �?The MACD for SOL/USD is gaining pace in the bullish zone. 4-Hours RSI (Relative Strength Index) �?The RSI for SOL/USD is above the 50 level. Major Support Levels �?$146, and $142. Major Resistance Levels �?$150, $155, and $162.