{"id":12201,"date":"2024-10-08T04:48:15","date_gmt":"2024-10-08T04:48:15","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=12201"},"modified":"2024-10-08T04:48:15","modified_gmt":"2024-10-08T04:48:15","slug":"solana-sol-flashes-breakdown-signs-will-support-hold","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=12201","title":{"rendered":"Solana (SOL) Flashes Breakdown Signs: Will Support Hold?"},"content":{"rendered":"

Solana trimmed gains and declined below the $146 support. SOL price is consolidating and might aim for a fresh increase unless there is a break below $140.<\/em><\/p>\n

SOL price started a fresh decline below the $146 zone against the US Dollar.
\nThe price is now trading near $145 and the 100-hourly simple moving average.
\nThere was a break below a key bullish trend line with support at $149 on the hourly chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could start a fresh increase if it stays above the $140 support zone.<\/p>\n

Solana Price Corrects Gains<\/h2>\n

Solana price climbed above the $145 and $146 levels before the bears appeared. SOL traded as high as $152 and recently started a downside correction like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n

The price declined below the $150 and $146 support levels. There was a break below a key bullish trend line with support at $149 on the hourly chart of the SOL\/USD pair. The pair slipped below the 23.6% Fib retracement level of the upward move from the $133 swing low to the $152 high.<\/p>\n

Solana is now trading near $145 and the 100-hourly simple moving average. The bulls seem to be active above the $142 support and the 50% Fib retracement level of the upward move from the $133 swing low to the $152 high.<\/p>\n

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

On the upside, the price is facing resistance near the $146.50 level. The next major resistance is near the $150 level. The main resistance could be $152. A successful close above the $150 and $152 resistance levels could set the pace for another steady increase. The next key resistance is near $160. Any more gains might send the price toward the $172 level.<\/p>\n

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

If SOL fails to rise above the $146.50 resistance, it could start another decline. Initial support on the downside is near the $142 level. The first major support is near the $140 level.<\/p>\n

A break below the $140 level might send the price toward the $132 zone. If there is a close below the $132 support, the price could decline toward the $120 support in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for SOL\/USD is gaining 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 $140 and $142.<\/p>\n

Major Resistance Levels \u2013 $150 and $152.<\/p>","protected":false},"excerpt":{"rendered":"

Solana trimmed gains and declined below the $146 support. SOL price is consolidating and might aim for a fresh increase unless there is a break below $140. SOL price started a fresh decline below the $146 zone against the US Dollar. The price is now trading near $145 and the 100-hourly simple moving average. There […]<\/p>\n","protected":false},"author":0,"featured_media":12202,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-12201","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\/12201"}],"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=12201"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/12201\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/12202"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}