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 Solana started a new leg lower below $225. SOL price is currently trying to rebound from $192 and is facing resistance near $215.
Solana price drops againSolana Price Fails to Sustain Above $220 and Like Bitcoin and Ethereum A new round of decline begins. SOL broke below the $212 and $205 support levels and entered bearish territory. The bears even pushed the price below $200 and the 100 hourly simple moving average. Price formed a low at $191 and has recently begun a rebound above the 23.6% Fibonacci retracement of the downward move from the $242 swing high to $191 low. Additionally, SOL/USD broke above a key bearish trend line with resistance at $200 on the hourly chart. Solana is currently trading above $200 and the 100 hourly simple moving average. If the price rises further, it may face resistance near $212. The next major resistance is near $215, which is the 50% Fibonacci retracement level of the downward move from the $242 swing high to $191 low. Major resistance is likely to be at $220.  A successful close above the $220 resistance could set the stage for the next round of steady gains. The next key resistance level is $230. If the increase continues, the price may move closer towards $242. SOL drops again?If SOL fails to break the $215 resistance, the decline is likely to continue. On the downside, initial support is near $202. The first major support level is near $200. A break below the $200 level could push the price towards the $192 support. If the price closes below the $192 support, the price may fall towards the $180 support in the near term. Technical indicators Hourly MACD – The MACD for SOL/USD is accelerating within the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major support levels – $202 and $200. Major resistance levels – $215 and $220. The next market trend is particularly critical, and opportunities are fleeting! Don't let hesitation hold back your wealth dreams, and don't let the trap of air coins swallow up your principal! Scan the QR code below to take you through the entire bull market! Joining us means standing on the shoulders of giants and seizing the opportunity to get rich. If you miss it, you may miss the opportunity a hundred times! Many friends still don’t understand the current market. It’s hard to buy at the second level, and they don’t understand at the first level. You can join us! Level one feeding tutorial, level two real-time entry and exit points and position allocation details, a group of professional people will serve you! You can follow me or add me on WeChat below! Welcome everyone to join my group to discuss and exchange information! VX: suiyue3786, backup VX: LS688677   |
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