{"id":17100,"date":"2024-11-01T05:28:48","date_gmt":"2024-11-01T05:28:48","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=17100"},"modified":"2024-11-01T05:28:48","modified_gmt":"2024-11-01T05:28:48","slug":"solana-sol-slides-to-support-bulls-ready-to-defend","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=17100","title":{"rendered":"Solana (SOL) Slides to Support: Bulls Ready to Defend?"},"content":{"rendered":"

Solana trimmed gains and traded below the $175 support zone. SOL price is now approaching the $165 support and might bounce back in the near term.<\/em><\/p>\n

SOL price started a fresh decline after it struggled near the $185 zone against the US Dollar.
\nThe price is now trading below $172 and the 100-hourly simple moving average.
\nThere is a key bearish trend line forming with resistance at $172 on the hourly chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could start a decent upward movement if it stays above the $165 and $162 support levels.<\/p>\n

Solana Price Holds Support<\/h2>\n

Solana price struggled to clear the $185 resistance and started a fresh decline like Bitcoin<\/a> and Ethereum<\/a>. There was a drop below the $180 and $175 support levels.<\/p>\n

The bears even pushed the price below $172 and tested the $165 support zone. A low was formed at $165 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $183 swing high to the $165 low.<\/p>\n

Solana is now trading below $172 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $170 level. The next major resistance is near the $172 level. There is also a key bearish trend line forming with resistance at $172 on the hourly chart of the SOL\/USD pair.<\/p>\n

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

The main resistance could be $175 or the 50% Fib retracement level of the downward move from the $183 swing high to the $165 low. A successful close above the $175 resistance level could set the pace for another steady increase. The next key resistance is $182. Any more gains might send the price toward the $185 level.<\/p>\n

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

If SOL fails to rise above the $170 resistance, it could continue to move down. Initial support on the downside is near the $165 level. The first major support is near the $162 level.<\/p>\n

A break below the $162 level might send the price toward the $150 zone. If there is a close below the $150 support, the price could decline toward the $135 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 $165 and $162.<\/p>\n

Major Resistance Levels \u2013 $170 and $172.<\/p>","protected":false},"excerpt":{"rendered":"

Solana trimmed gains and traded below the $175 support zone. SOL price is now approaching the $165 support and might bounce back in the near term. SOL price started a fresh decline after it struggled near the $185 zone against the US Dollar. The price is now trading below $172 and the 100-hourly simple moving […]<\/p>\n","protected":false},"author":0,"featured_media":17101,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17100","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\/17100"}],"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=17100"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17100\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17101"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}