{"id":11438,"date":"2024-10-04T05:08:08","date_gmt":"2024-10-04T05:08:08","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=11438"},"modified":"2024-10-04T05:08:08","modified_gmt":"2024-10-04T05:08:08","slug":"solana-sol-clings-to-key-support-is-a-bounce-imminent","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=11438","title":{"rendered":"Solana (SOL) Clings to Key Support: Is a Bounce Imminent?"},"content":{"rendered":"

Solana trimmed gains and tested the $132 support. SOL price is consolidating and might aim for a fresh increase above the $140 resistance zone.<\/em><\/p>\n

SOL price started a fresh decline below the $145 zone against the US Dollar.
\nThe price is now trading near $142 and the 100-hourly simple moving average.
\nThere was a break above a short-term bearish trend line with resistance at $136 on the hourly chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could start a recovery wave if it stays above the $132 support zone.<\/p>\n

Solana Price Revisits $132<\/h2>\n

Solana price started a fresh decline from the $162 resistance like Bitcoin<\/a> and Ethereum<\/a>. SOL declined below the $155 and $150 support levels. It even declined below $142.<\/p>\n

However, the bulls were active above the $132 support. A low was formed at $133.17 and the price is now consolidating losses. There was a move above the $135 level. The price climbed above the 23.6% Fib retracement level of the recent decline from the $1482 swing high to the $133 low.<\/p>\n

There was also a break above a short-term bearish trend line with resistance at $136 on the hourly chart of the SOL\/USD pair. Solana is now trading below $142 and the 100-hourly simple moving average.<\/p>\n

On the upside, the price is facing resistance near the $140 level. The next major resistance is near the $142 level. It is close to the 61.8% Fib retracement level of the recent decline from the $1482 swing high to the $133 low. The main resistance could be $148.<\/p>\n

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

A successful close above the $148 and $150 resistance levels could set the pace for another steady increase. The next key resistance is near $155. Any more gains might send the price toward the $162 level.<\/p>\n

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

If SOL fails to rise above the $140 resistance, it could start another decline. Initial support on the downside is near the $135 level. The first major support is near the $132 level.<\/p>\n

A break below the $132 level might send the price toward the $120 zone. If there is a close below the $120 support, the price could decline toward the $112 support in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for SOL\/USD is losing pace in the bearish 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 $135 and $132.<\/p>\n

Major Resistance Levels \u2013 $140 and $148.<\/p>","protected":false},"excerpt":{"rendered":"

Solana trimmed gains and tested the $132 support. SOL price is consolidating and might aim for a fresh increase above the $140 resistance zone. SOL price started a fresh decline below the $145 zone against the US Dollar. The price is now trading near $142 and the 100-hourly simple moving average. There was a break […]<\/p>\n","protected":false},"author":0,"featured_media":11439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11438","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\/11438"}],"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=11438"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11438\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/11439"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}