{"id":36260,"date":"2025-01-16T05:08:11","date_gmt":"2025-01-16T05:08:11","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=36260"},"modified":"2025-01-16T05:08:11","modified_gmt":"2025-01-16T05:08:11","slug":"solana-sol-back-above-200-will-it-hold-or-fade","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=36260","title":{"rendered":"Solana (SOL) Back Above $200: Will It Hold or Fade?"},"content":{"rendered":"

Solana started a decent increase above the $188 resistance. SOL price is back above $200 and might struggle to continue higher above $205.<\/em><\/p>\n

SOL price started a fresh increase above the $185 and $188 levels against the US Dollar.
\nThe price is now trading above $195 and the 100-hourly simple moving average.
\nThere is a connecting bullish trend line forming with support at $196 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 Reclaims $200<\/h2>\n

Solana price formed a base above $175 and started a decent upward move, like Bitcoin<\/a> and Ethereum<\/a>. SOL was able to climb above the $180 and $185 resistance levels.<\/p>\n

The bulls pushed it above the $188 resistance and then $200. A high was formed at $206 and the price is now consolidating gains near the 23.6% Fib retracement level of the upward move from the $186 swing high to the $206 low.<\/p>\n

Solana is now trading above $195 and the 100-hourly simple moving average. There is also a connecting bullish trend line forming with support at $196 on the hourly chart of the SOL\/USD pair. On the upside, the price is facing resistance near the $205 level.<\/p>\n

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

The next major resistance is near the $212 level. The main resistance could be $220. A successful close above the $220 resistance zone could set the pace for another steady increase. The next key resistance is $232. Any more gains might send the price toward the $245 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 zone and the trend line. The first major support is near the $190 level or the 76.4% Fib retracement level of the upward move from the $186 swing high to the $206 low.<\/p>\n

A break below the $190 level might send the price toward the $185 zone. If there is a close below the $185 support, the price could decline toward the $172 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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $196 and $190.<\/p>\n

Major Resistance Levels \u2013 $205 and $212.<\/p>","protected":false},"excerpt":{"rendered":"

Solana started a decent increase above the $188 resistance. SOL price is back above $200 and might struggle to continue higher above $205. SOL price started a fresh increase above the $185 and $188 levels against the US Dollar. The price is now trading above $195 and the 100-hourly simple moving average. There is a […]<\/p>\n","protected":false},"author":0,"featured_media":36261,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-36260","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\/36260"}],"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=36260"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/36260\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/36261"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}