{"id":1882,"date":"2024-08-29T05:28:53","date_gmt":"2024-08-29T05:28:53","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=1882"},"modified":"2024-08-29T05:28:53","modified_gmt":"2024-08-29T05:28:53","slug":"solana-price-sol-slips-will-a-break-below-140-trigger-more-downside","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=1882","title":{"rendered":"Solana Price (SOL) Slips: Will a Break Below $140 Trigger More Downside?"},"content":{"rendered":"

Solana started a fresh decline below $155 and $150. SOL price tested $140 and is currently struggling to start a recovery wave.<\/em><\/p>\n

SOL price started a fresh downward move below $150 against the US Dollar.
\nThe price is now trading below $148 and the 100-hourly simple moving average.
\nThere is a short-term declining channel forming with resistance at $145.50 on the hourly chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could start a recovery wave if it clears the $148 resistance zone.<\/p>\n

Solana Price Revisits $140<\/h2>\n

Solana price started a fresh decline from well above $155 like Bitcoin and Ethereum. SOL gained pace and traded below the $150 level. It even tested the $140 support level.<\/p>\n

A low was formed at $140.53 and the price is now consolidating losses. There was a minor upward move above the $142 and $143 levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $161.95 swing high to the $140.53 low.<\/p>\n

Solana is now trading well below $150 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $146 level. There is also a short-term declining channel forming with resistance at $145.50 on the hourly chart of the SOL\/USD pair.<\/p>\n

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

The next major resistance is near the $148 level. A successful close above the $148 and $150 resistance levels could set the pace for another steady increase. The next key resistance is near $152 or the 50% Fib retracement level of the downward move from the $161.95 swing high to the $140.53 low. 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 $146 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 $132. If there is a close below the $132 support, the price could decline toward the $125 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 $142 and $140.<\/p>\n

Major Resistance Levels \u2013 $146 and $148.<\/p>","protected":false},"excerpt":{"rendered":"

Solana started a fresh decline below $155 and $150. SOL price tested $140 and is currently struggling to start a recovery wave. SOL price started a fresh downward move below $150 against the US Dollar. The price is now trading below $148 and the 100-hourly simple moving average. There is a short-term declining channel forming […]<\/p>\n","protected":false},"author":0,"featured_media":1883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1882","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\/1882"}],"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=1882"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/1882\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/1883"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}