{"id":34029,"date":"2025-01-08T05:08:43","date_gmt":"2025-01-08T05:08:43","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=34029"},"modified":"2025-01-08T05:08:43","modified_gmt":"2025-01-08T05:08:43","slug":"solana-sol-falls-under-200-temporary-setback-or-trend-shift","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=34029","title":{"rendered":"Solana (SOL) Falls Under $200: Temporary Setback or Trend Shift?"},"content":{"rendered":"

Solana failed to clear the $225 resistance and trimmed gains. SOL price is now below $200 and showing a few bearish signs.<\/em><\/p>\n

SOL price started a fresh decline after it failed to stay above $220 against the US Dollar.
\nThe price is now trading below $200 and the 100-hourly simple moving average.
\nThere is a connecting bearish trend line forming with resistance at $204 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 Dips Again<\/h2>\n

Solana price struggled to clear the $220-$225 zone and started a fresh decline, like Bitcoin<\/a> and Ethereum<\/a>. There was a move below the $212 and $205 support levels.<\/p>\n

The price even dipped below the $200 handle. A low was formed at $196.73, and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $223 swing high to the $196 low.<\/p>\n

Solana is now trading below $200 and the 100-hourly simple moving average. There is also a connecting bearish trend line forming with resistance at $204 on the hourly chart of the SOL\/USD pair. On the upside, the price is facing resistance near the $204 level.<\/p>\n

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

The next major resistance is near the $210 level or the 50% Fib retracement level of the downward move from the $223 swing high to the $196 low. The main resistance could be $213. A successful close above the $213 resistance level could set the pace for another steady increase. The next key resistance is $225. Any more gains might send the price toward the $240 level.<\/p>\n

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

If SOL fails to rise above the $205 resistance, it could start another decline. Initial support on the downside is near the $196 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 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 $196 and $188.<\/p>\n

Major Resistance Levels \u2013 $205 and $210.<\/p>","protected":false},"excerpt":{"rendered":"

Solana failed to clear the $225 resistance and trimmed gains. SOL price is now below $200 and showing a few bearish signs. SOL price started a fresh decline after it failed to stay above $220 against the US Dollar. The price is now trading below $200 and the 100-hourly simple moving average. There is a […]<\/p>\n","protected":false},"author":0,"featured_media":34030,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-34029","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\/34029"}],"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=34029"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/34029\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/34030"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}