Solana began a recent decline from the $188 zone. SOL value is now transferring decrease and would possibly decline additional under the $170 stage.
- SOL value began a recent decline from the $188 resistance zone towards the US Dollar.
- The value is now buying and selling under $180 and the 100-hourly easy transferring common.
- There is a connecting bearish development line forming with resistance at $176 on the hourly chart of the SOL/USD pair (knowledge supply from Kraken).
- The pair may begin a recent improve if it clears the $180 resistance zone.
Solana Price Dips Again
Solana value shaped a base above the $170 help and began a recent improve, like Bitcoin and Ethereum. SOL gained tempo for a transfer above the $172 and $175 resistance ranges.
The value examined the $188 resistance earlier than there was a recent drop to $170. A low was shaped close to $170 and the worth lately tried a recent improve. The value cleared the $172 stage. It surpassed the 23.6% Fib retracement stage of the current decline from the $188 swing excessive to the $170 low.
Solana is now buying and selling under $180 and the 100-hourly easy transferring common. There can be a connecting bearish development line forming with resistance at $176 on the hourly chart of the SOL/USD pair.
On the upside, the worth is going through resistance close to the $176 stage. The subsequent main resistance is close to the $180 stage. The major resistance might be $185. A profitable shut above the $185 resistance zone may set the tempo for one more regular improve. The subsequent key resistance is $192. Any extra positive factors would possibly ship the worth towards the $200 stage.
Another Decline in SOL?
If SOL fails to rise above the $176 resistance, it may begin one other decline. Initial help on the draw back is close to the $172 zone. The first main help is close to the $170 stage.
A break under the $170 stage would possibly ship the worth towards the $165 zone and the development line. If there’s a shut under the $165 help, the worth may decline towards the $160 help within the close to time period.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining tempo within the bearish zone.
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is under the 50 stage.
Major Support Levels – $172 and $170.
Major Resistance Levels – $176 and $180.
