{"id":27487,"date":"2024-12-11T05:08:57","date_gmt":"2024-12-11T05:08:57","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=27487"},"modified":"2024-12-11T05:08:57","modified_gmt":"2024-12-11T05:08:57","slug":"solana-sol-encounters-barriers-is-a-fresh-surge-still-possible","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=27487","title":{"rendered":"Solana (SOL) Encounters Barriers: Is a Fresh Surge Still Possible?"},"content":{"rendered":"

Solana started a downside correction below the $230 zone. SOL price is now recovering losses and facing hurdles near the $220 level.<\/em><\/p>\n

SOL price started a fresh increase after it tested the $204 zone against the US Dollar.
\nThe price is now trading below $230 and the 100-hourly simple moving average.
\nThere is a key bearish trend line forming with resistance at $220 on the hourly chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could start a fresh increase if the bulls clear the $220 zone.<\/p>\n

Solana Price Eyes Upside Break<\/h2>\n

Solana price formed a support base and started a fresh increase from the $204 level like Bitcoin<\/a> and Ethereum<\/a>. There was a decent increase above the $210 and $212 resistance levels.<\/p>\n

There was a move above the 23.6% Fib retracement level of the downward move from the $243 swing high to the $203 low. However, the price is now facing many hurdles near $220. Solana is now trading above $218 and the 100-hourly simple moving average.<\/p>\n

On the upside, the price is facing resistance near the $220 level. There is also a key bearish trend line forming with resistance at $220 on the hourly chart of the SOL\/USD pair.<\/p>\n

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

The next major resistance is near the $224 level or the 50% Fib retracement level of the downward move from the $243 swing high to the $203 low. The main resistance could be $228. A successful close above the $228 resistance level could set the pace for another steady increase. The next key resistance is $235. Any more gains might send the price toward the $250 level.<\/p>\n

Another Decline in SOL?<\/h2>\n

If SOL fails to rise above the $220 resistance, it could start another decline. Initial support on the downside is near the $212 level. The first major support is near the $205 level.<\/p>\n

A break below the $205 level might send the price toward the $200 zone. If there is a close below the $200 support, the price could decline toward the $188 support in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for SOL\/USD is gaining pace in the bullish zone.<\/p>\n

Hourly Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is above the 50 level.<\/p>\n

Major Support Levels \u2013 $212 and $205.<\/p>\n

Major Resistance Levels \u2013 $220 and $228.<\/p>","protected":false},"excerpt":{"rendered":"

Solana started a downside correction below the $230 zone. SOL price is now recovering losses and facing hurdles near the $220 level. SOL price started a fresh increase after it tested the $204 zone against the US Dollar. The price is now trading below $230 and the 100-hourly simple moving average. There is a key […]<\/p>\n","protected":false},"author":0,"featured_media":27488,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-27487","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\/27487"}],"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=27487"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27487\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/27488"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}