{"id":10401,"date":"2024-09-30T13:48:18","date_gmt":"2024-09-30T13:48:18","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=10401"},"modified":"2024-09-30T13:48:18","modified_gmt":"2024-09-30T13:48:18","slug":"solana-price-sol-holds-crucial-support-level-is-the-rally-still-alive","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=10401","title":{"rendered":"Solana Price (SOL) Holds Crucial Support Level: Is the Rally Still Alive?"},"content":{"rendered":"

Solana is holding gains above the $150 resistance zone. SOL price is consolidating and might aim for a fresh increase above the $162 resistance zone.<\/em><\/p>\n

SOL price started a fresh increase above the $155 zone against the US Dollar.
\nThe price is now trading near $155 and the 100-hourly simple moving average.
\nThere is a key rising channel forming with support at $155 on the hourly chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could start another increase if it stays above the $155 support zone.<\/p>\n

Solana Price Regains Traction<\/h2>\n

Solana price extended its increase above the $155 resistance like Bitcoin<\/a> and Ethereum<\/a>. SOL even climbed above $160 before the bears appeared. A high was formed at $162 and the price started a downside correction.<\/p>\n

There was a move below the $160 and $158 levels. However, the bulls were active near the $155 support zone. A low is formed at $155 and the price is now consolidating losses below the 23.6% Fib retracement level of the recent decline from the $162 swing high to the $155 low.<\/p>\n

Solana is now trading near $155 and the 100-hourly simple moving average. There is also a key rising channel forming with support at $155 on the hourly chart of the SOL\/USD pair.<\/p>\n

On the upside, the price is facing resistance near the $158 level. The next major resistance is near the $160 level. It is close to the 76.4% Fib retracement level of the recent decline from the $162 swing high to the $155 low. The main resistance could be $162.<\/p>\n

<\/a><\/p>\n

A successful close above the $160 and $162 resistance levels could set the pace for another steady increase. The next key resistance is near $175. Any more gains might send the price toward the $180 level.<\/p>\n

More Downsides in SOL?<\/h2>\n

If SOL fails to rise above the $158 resistance, it could start another decline. Initial support on the downside is near the $155 level. The first major support is near the $154 level.<\/p>\n

A break below the $154 level might send the price toward the $149 zone. If there is a close below the $149 support, the price could decline toward the $142 support in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for SOL\/USD is losing pace in the bullish zone.<\/p>\n

Hourly Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is below the 50 level.<\/p>\n

Major Support Levels \u2013 $155 and $149.<\/p>\n

Major Resistance Levels \u2013 $158 and $162.<\/p>","protected":false},"excerpt":{"rendered":"

Solana is holding gains above the $150 resistance zone. SOL price is consolidating and might aim for a fresh increase above the $162 resistance zone. SOL price started a fresh increase above the $155 zone against the US Dollar. The price is now trading near $155 and the 100-hourly simple moving average. There is a […]<\/p>\n","protected":false},"author":0,"featured_media":10402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10401","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/10401"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10401"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/10401\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/10402"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}