{"id":51715,"date":"2025-03-13T05:08:03","date_gmt":"2025-03-13T05:08:03","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=51715"},"modified":"2025-03-13T05:08:03","modified_gmt":"2025-03-13T05:08:03","slug":"solana-sol-faces-many-challenges-can-bulls-hold-the-line","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=51715","title":{"rendered":"Solana (SOL) Faces Many Challenges\u2014Can Bulls Hold the Line?"},"content":{"rendered":"

Solana started a recovery wave above the $120 resistance zone. SOL price is now consolidating and might struggle to recover above the $132 resistance.<\/em><\/p>\n

SOL price started a fresh decline below the $150 and $140 levels against the US Dollar.
\nThe price is now trading below $130 and the 100-hourly simple moving average.
\nThere is a short-term rising channel forming with support at $124 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 $132 zone.<\/p>\n

Solana Price Faces Resistance<\/h2>\n

Solana price struggled to clear the $155 resistance and started a fresh decline, like Bitcoin<\/a> and Ethereum<\/a>. SOL declined below the $140 and $132 support levels.<\/p>\n

It even dived below the $120 level. The recent low was formed at $114 before the price recovered some losses. It climbed above the $120 and $122 levels. The price surpassed the 23.6% Fib retracement level of the downward move from the $151 swing high to the $114 swing low.<\/p>\n

Solana is now trading below $130 and the 100-hourly simple moving average. There is also a short-term rising channel forming with support at $124 on the hourly chart of the SOL\/USD pair.<\/p>\n

On the upside, the price is facing resistance near the $128 level. The next major resistance is near the $130 level. The main resistance could be $132 and the 50% Fib retracement level of the downward move from the $151 swing high to the $114 swing low.<\/p>\n

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

A successful close above the $132 resistance zone could set the pace for another steady increase. The next key resistance is $140. Any more gains might send the price toward the $150 level.<\/p>\n

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

If SOL fails to rise above the $132 resistance, it could start another decline. Initial support on the downside is near the $124 zone. The first major support is near the $120 level.<\/p>\n

A break below the $120 level might send the price toward the $114 zone. If there is a close below the $114 support, the price could decline toward the $100 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 near the 50 level.<\/p>\n

Major Support Levels \u2013 $124 and $120.<\/p>\n

Major Resistance Levels \u2013 $128 and $132.<\/p>","protected":false},"excerpt":{"rendered":"

Solana started a recovery wave above the $120 resistance zone. SOL price is now consolidating and might struggle to recover above the $132 resistance. SOL price started a fresh decline below the $150 and $140 levels against the US Dollar. The price is now trading below $130 and the 100-hourly simple moving average. There is […]<\/p>\n","protected":false},"author":0,"featured_media":51716,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-51715","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\/51715"}],"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=51715"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/51715\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/51716"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}