{"id":31017,"date":"2024-12-25T05:08:34","date_gmt":"2024-12-25T05:08:34","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=31017"},"modified":"2024-12-25T05:08:34","modified_gmt":"2024-12-25T05:08:34","slug":"solana-sol-gearing-up-is-a-new-surge-on-the-horizon","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=31017","title":{"rendered":"Solana (SOL) Gearing Up: Is a New Surge on the Horizon?"},"content":{"rendered":"

Solana remained stable above the $175 level. SOL price is now recovering losses and facing hurdles near the $200 and $205 levels.<\/em><\/p>\n

SOL price started a fresh increase after it tested the $175 zone against the US Dollar.
\nThe price is now trading above $190 and the 100-hourly simple moving average.
\nThere was a break above a connecting bearish trend line with resistance at $185 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 $205 zone.<\/p>\n

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

Solana price formed a support base and started a fresh increase from the $185 level like Bitcoin<\/a> and Ethereum<\/a>. There was a decent increase above the $190 and $192 resistance levels.<\/p>\n

There was a break above a connecting bearish trend line with resistance at $190 on the hourly chart of the SOL\/USD pair. The pair climbed above $195 and tested the 50% Fib retracement level of the downward move from the $228 swing high to the $175 low.<\/p>\n

However, the price is now facing many hurdles near $200. Solana is now trading above $190 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $202 level.<\/p>\n

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

The next major resistance is near the $208 level or the 61.8% Fib retracement level of the downward move from the $228 swing high to the $175 low. The main resistance could be $215. A successful close above the $220 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 $208 resistance, it could start another decline. Initial support on the downside is near the $195 level. The first major support is near the $188 level.<\/p>\n

A break below the $180 level might send the price toward the $175 zone. If there is a close below the $175 support, the price could decline toward the $162 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 $195 and $188.<\/p>\n

Major Resistance Levels \u2013 $208 and $215.<\/p>","protected":false},"excerpt":{"rendered":"

Solana remained stable above the $175 level. SOL price is now recovering losses and facing hurdles near the $200 and $205 levels. SOL price started a fresh increase after it tested the $175 zone against the US Dollar. The price is now trading above $190 and the 100-hourly simple moving average. There was a break […]<\/p>\n","protected":false},"author":0,"featured_media":31018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31017","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\/31017"}],"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=31017"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31017\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/31018"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}