FxWirePro- SOLUSD holds above trend line resistance, targets $165

Solana is a blockchain built for mass adoption. It's a high-performance network that is utilized for a range of use cases, including finance, payments, and gaming.

Features-

Transactions per second 65000

Block time- 0.40 seconds

Fees- 0.00064 SOL per transaction

Trend line resistance- 134 (trend line joining  162.01 and 139.96)

Any daily close above $165 confirms further bullishness.

SOLUSD trades above trend line resistance after a long consolidation.  The pair holds above the short-term (34 and 55 EMA) and long-term moving average in the 4-hour chart. It hit a low of $152.41 and is currently trading around $139.13.

The bullish invalidation can happen if the pair closes below $110. On the lower side, the near-term support is $140. Any violation below target $127/$120/$110.

The pair's near-term resistance is around $152.50 (50% fib). Any breach above confirms minor bullishness. A jump to $165/$175/$200 is possible. A surge past $210 will take it to $260.

It is good to buy on dips around $140 with SL around $127 for TP of $200.