{"id":55898,"date":"2025-04-01T05:08:23","date_gmt":"2025-04-01T05:08:23","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=55898"},"modified":"2025-04-01T05:08:23","modified_gmt":"2025-04-01T05:08:23","slug":"solana-sol-holds-steady-after-decline-breakout-or-more-downside","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=55898","title":{"rendered":"Solana (SOL) Holds Steady After Decline\u2014Breakout or More Downside?"},"content":{"rendered":"

Solana started a fresh decline below the $132 support zone. SOL price is now consolidating and might struggle to recover above the $126 resistance.<\/em><\/p>\n

SOL price started a recovery wave from the $122 support zone against the US Dollar.
\nThe price is now trading below $130 and the 100-hourly simple moving average.
\nThere is a key 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 $126 zone.<\/p>\n

Solana Price Faces Resistance<\/h2>\n

Solana price started a fresh decline below the $135 and $132 levels, like Bitcoin<\/a> and Ethereum<\/a>. SOL even declined below the $125 support level before the bulls appeared.<\/p>\n

A low was formed at $122.64 and the price recently started a consolidation phase. There was a minor increase above the $125 level. The price tested the 23.6% Fib retracement level of the downward move from the $140 swing high to the $122 low.<\/p>\n

Solana is now trading below $126 and the 100-hourly simple moving average. There is also a key 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 $126 level. The next major resistance is near the $128 level. The main resistance could be $132 or the 50% Fib retracement level of the downward move from the $140 swing high to the $122 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 $136. Any more gains might send the price toward the $142 level.<\/p>\n

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

If SOL fails to rise above the $128 resistance, it could start another decline. Initial support on the downside is near the $124 zone. The first major support is near the $122 level.<\/p>\n

A break below the $122 level might send the price toward the $115 zone. If there is a close below the $115 support, the price could decline toward the $102 support in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 The MACD for SOL\/USD is losing pace in the bearish 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 $124 and $122.<\/p>\n

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

Solana started a fresh decline below the $132 support zone. SOL price is now consolidating and might struggle to recover above the $126 resistance. SOL price started a recovery wave from the $122 support zone against the US Dollar. The price is now trading below $130 and the 100-hourly simple moving average. There is a […]<\/p>\n","protected":false},"author":0,"featured_media":55899,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-55898","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\/55898"}],"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=55898"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/55898\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/55899"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=55898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=55898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=55898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}