{"id":45386,"date":"2025-02-18T05:08:52","date_gmt":"2025-02-18T05:08:52","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=45386"},"modified":"2025-02-18T05:08:52","modified_gmt":"2025-02-18T05:08:52","slug":"solana-sol-dips-into-the-red-healthy-correction-or-trend-reversal","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=45386","title":{"rendered":"Solana (SOL) Dips Into the Red \u2013 Healthy Correction or Trend Reversal?"},"content":{"rendered":"

Solana started a fresh decline from the $200 zone. SOL price is down over 10% and might even struggle to stay above the $175 support zone.<\/em><\/p>\n

SOL price started a fresh decline below the $200 and $185 levels against the US Dollar.
\nThe price is now trading below $185 and the 100-hourly simple moving average.
\nThere is a connecting bearish trend line forming with resistance at $182 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 $185 zone.<\/p>\n

Solana Price Dips Further<\/h2>\n

Solana price struggled to clear the $205 resistance and started a fresh decline, underperforming Bitcoin<\/a> and Ethereum<\/a>. SOL declined below the $200 and $192 support levels.<\/p>\n

It even dived below the $185 level. The recent low was formed at $174 and the price is now consolidating losses with a bearish angle below the 23.6% Fib retracement level of the downward move from the $205 swing high to the $174 swing low.<\/p>\n

Solana is now trading below $185 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $182 level. There is also a connecting bearish trend line forming with resistance at $182 on the hourly chart of the SOL\/USD pair.<\/p>\n

The next major resistance is near the $185 level. The main resistance could be $190 and the 50% Fib retracement level of the downward move from the $205 swing high to the $174 swing low.<\/p>\n

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

A successful close above the $190 resistance zone could set the pace for another steady increase. The next key resistance is $198. Any more gains might send the price toward the $205 level.<\/p>\n

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

If SOL fails to rise above the $185 resistance, it could start another decline. Initial support on the downside is near the $174 zone. The first major support is near the $170 level.<\/p>\n

A break below the $170 level might send the price toward the $165 zone. If there is a close below the $165 support, the price could decline toward the $150 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 $174 and $170.<\/p>\n

Major Resistance Levels \u2013 $182 and $185.<\/p>","protected":false},"excerpt":{"rendered":"

Solana started a fresh decline from the $200 zone. SOL price is down over 10% and might even struggle to stay above the $175 support zone. SOL price started a fresh decline below the $200 and $185 levels against the US Dollar. The price is now trading below $185 and the 100-hourly simple moving average. […]<\/p>\n","protected":false},"author":0,"featured_media":45387,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-45386","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\/45386"}],"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=45386"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/45386\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/45387"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}