{"id":20062,"date":"2024-11-13T05:08:46","date_gmt":"2024-11-13T05:08:46","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=20062"},"modified":"2024-11-13T05:08:46","modified_gmt":"2024-11-13T05:08:46","slug":"solana-sol-needs-to-hold-200-for-next-rally-will-it-succeed","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=20062","title":{"rendered":"Solana (SOL) Needs to Hold $200 for Next Rally: Will It Succeed?"},"content":{"rendered":"

Solana started a fresh increase above the $200 support zone. SOL price is correcting gains and must stay above $200 for a fresh increase.<\/em><\/p>\n

SOL price started a fresh increase after it settled above the $188 level against the US Dollar.
\nThe price is now trading below $212 and the 100-hourly simple moving average.
\nThere was a break below a key bullish trend line with support at $210 on the hourly chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could start a fresh increase if the bulls defend the $200 support zone.<\/p>\n

Solana Price Starts Downside Correction<\/h2>\n

Solana price formed a support base and started a fresh increase above the $185 level like Bitcoin<\/a> and Ethereum<\/a>. There was a strong move above the $195 and $200 resistance levels.<\/p>\n

The price even cleared the $212 level. A high was formed at $225 and the price is now correcting gains. There was a move below the $220 and $212 levels. The price dipped below the 50% Fib retracement level of the upward move from the $195 swing low to the $225 high.<\/p>\n

There was a break below a key bullish trend line with support at $210 on the hourly chart of the SOL\/USD pair. Solana is now trading below $212 and the 100-hourly simple moving average.<\/p>\n

The price is now approaching the key support at $200 and the 76.4% Fib retracement level of the upward move from the $195 swing low to the $225 high. On the upside, the price is facing resistance near the $208 level. The next major resistance is near the $212 level.<\/p>\n

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

The main resistance could be $225. A successful close above the $225 resistance level could set the pace for another steady increase. The next key resistance is $242. Any more gains might send the price toward the $250 level.<\/p>\n

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

If SOL fails to rise above the $212 resistance, it could continue to move down. Initial support on the downside is near the $202 level. The first major support is near the $200 level.<\/p>\n

A break below the $200 level might send the price toward the $195 zone. If there is a close below the $195 support, the price could decline toward the $185 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 $200 and $195.<\/p>\n

Major Resistance Levels \u2013 $208 and $212.<\/p>","protected":false},"excerpt":{"rendered":"

Solana started a fresh increase above the $200 support zone. SOL price is correcting gains and must stay above $200 for a fresh increase. SOL price started a fresh increase after it settled above the $188 level against the US Dollar. The price is now trading below $212 and the 100-hourly simple moving average. There […]<\/p>\n","protected":false},"author":0,"featured_media":20063,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-20062","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\/20062"}],"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=20062"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/20062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/20063"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}