Solana did not clear the $205 resistance and trimmed beneficial properties. SOL worth is now beneath $192 and exhibiting a few bearish indicators.
- SOL worth began a recent decline after it failed to remain above $200 in opposition to the US Dollar.
- The worth is now buying and selling beneath $192 and the 100-hourly easy shifting common.
- There is a connecting bearish development line forming with resistance at $190 on the hourly chart of the SOL/USD pair (knowledge supply from Kraken).
- The pair may begin a recent enhance if the bulls clear the $192 zone.
Solana Price Dips Again
Solana worth struggled to clear the $200-$205 zone and began a recent decline, like Bitcoin and Ethereum. There was a transfer beneath the $200 and $192 assist ranges.
The worth even dipped beneath the $185 assist. A low was shaped at $182.20, and the worth is now consolidating losses beneath the 23.6% Fib retracement stage of the downward transfer from the $223 swing excessive to the $182 low.
Solana is now buying and selling beneath $192 and the 100-hourly easy shifting common. There can be a connecting bearish development line forming with resistance at $190 on the hourly chart of the SOL/USD pair. On the upside, the worth is dealing with resistance close to the $190 stage.
The subsequent main resistance is close to the $192 stage. The foremost resistance might be $200 or the 50% Fib retracement stage of the downward transfer from the $223 swing excessive to the $182 low. A profitable shut above the $200 resistance zone may set the tempo for one more regular enhance. The subsequent key resistance is $212. Any extra beneficial properties would possibly ship the worth towards the $225 stage.
Another Decline in SOL?
If SOL fails to rise above the $192 resistance, it may begin one other decline. Initial assist on the draw back is close to the $182 stage. The first main assist is close to the $180 stage.
A break beneath the $180 stage would possibly ship the worth towards the $175 zone. If there’s a shut beneath the $175 assist, the worth may decline towards the $162 assist in the close to time period.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining tempo in the bearish zone.
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is beneath the 50 stage.
Major Support Levels – $182 and $180.
Major Resistance Levels – $190 and $192.
