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 Solana failed to hold above $198, and gains retreated. SOL price is currently below $195 and may find support near $188.
Solana Price Near SupportSolana Price Fails to Break Above $205, Starts Retracement, Drops Over Bitcoin and Ethereum . SOL price once fell below $200 and $198, entering a short-term bear market area. SOL/USD price fell below the 23.6% Fibonacci retracement level of the advance from the $177 low to $205 high. However, bulls are active near the $192 support. Additionally, a descending channel is forming on the hourly chart of SOL/USD with resistance near $200.  Solana is currently trading below $195 and below the 100 hourly simple moving average. On the upside, the price faces resistance near $198. The next major resistance is near $200. Major resistance is likely to be at $205. A successful close above the $205 resistance zone could set the stage for the next round of solid gains. The next key resistance level is $220. Any further gains could push the price towards $225. SOL downside breakout?If SOL fails to break above the $198 resistance, a fresh decline could begin. Initial support on the downside is near $192 and the 50% Fibonacci retracement level of the advance from the $177 low to $205 high. The first major support level is near $188. If it breaks below the $188 mark, the price may test towards the $184 support area. If the price closes below the $184 support, the price may test further towards the $177 support in the short term. Technical indicators Hourly MACD – The MACD indicator for SOL/USD is accelerating in bearish territory. Hourly RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major support levels – $192 and $188. Major resistance levels – $198 and $200. The next market trend is particularly critical. The door to the altcoin era has opened, and the opportunity is fleeting! Don't let hesitation hold back your wealth dreams, and don't let the trap of air coins swallow up your principal! I will take everyone to aim at the opportunities to get rich in copycats. There is no problem if the expected space is more than 10 times. Scan the QR code below and take you to lay out the entire bull market! Joining us means standing on the shoulders of giants and seizing the opportunity to get rich quickly. If you miss it, you may miss a hundred times the opportunity. Many friends in the current market still don’t understand that buying at the second level is not good and playing 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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