{"id":41771,"date":"2025-02-05T05:08:40","date_gmt":"2025-02-05T05:08:40","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=41771"},"modified":"2025-02-05T05:08:40","modified_gmt":"2025-02-05T05:08:40","slug":"solana-sol-at-a-crossroads-can-it-break-through-and-turn-bullish","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=41771","title":{"rendered":"Solana (SOL) at a Crossroads: Can It Break Through and Turn Bullish?"},"content":{"rendered":"

Solana started a fresh decline from the $220 zone. SOL price is consolidating and might face resistance near the $215 and $220 levels.<\/em><\/p>\n

SOL price started a fresh decline below the $215 and $212 levels against the US Dollar.
\nThe price is now trading below $212 and the 100-hourly simple moving average.
\nThere is a short-term declining channel or a bullish flag forming with resistance at $213 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 Faces Resistance<\/h2>\n

Solana price struggled to clear the $250 resistance and started a fresh decline, like Bitcoin<\/a> and Ethereum<\/a>. SOL declined below the $220 and $200 support levels.<\/p>\n

It even dived below the $180 level. The recent low was formed at $175 before the price climbed and tested the $220 resistance. A high was formed at $220 and the price is now consolidating. There was a drop below the 23.6% Fib retracement level of the upward move from the $175 swing low to the $220 high.<\/p>\n

Solana is now trading below $220 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $212 level. There is also a short-term declining channel or a bullish flag forming with resistance at $213 on the hourly chart of the SOL\/USD pair.<\/p>\n

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

The next major resistance is near the $215 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 $250 level.<\/p>\n

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

If SOL fails to rise above the $215 resistance, it could start another decline. Initial support on the downside is near the $202 zone. The first major support is near the $198 level or the 50% Fib retracement level of the upward move from the $175 swing low to the $220 high.<\/p>\n

A break below the $198 level might send the price toward the $192 zone. If there is a close below the $192 support, the price could decline toward the $175 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 $202 and $198.<\/p>\n

Major Resistance Levels \u2013 $215 and $220.<\/p>","protected":false},"excerpt":{"rendered":"

Solana started a fresh decline from the $220 zone. SOL price is consolidating and might face resistance near the $215 and $220 levels. SOL price started a fresh decline below the $215 and $212 levels against the US Dollar. The price is now trading below $212 and the 100-hourly simple moving average. There is a […]<\/p>\n","protected":false},"author":0,"featured_media":41772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-41771","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\/41771"}],"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=41771"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/41772"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}