{"id":7254,"date":"2024-09-17T06:30:03","date_gmt":"2024-09-17T06:30:03","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=7254"},"modified":"2024-09-17T06:30:03","modified_gmt":"2024-09-17T06:30:03","slug":"solana-price-sol-consolidates-time-for-a-fresh-comeback","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=7254","title":{"rendered":"Solana Price (SOL) Consolidates: Time for a Fresh Comeback?"},"content":{"rendered":"

Solana declined and tested the $128 support zone. SOL price is consolidating losses and might aim for a fresh increase above the $132 resistance.<\/em><\/p>\n

SOL price started a consolidation phase from the $128 zone against the US Dollar.
\nThe price is now trading below $135 and the 100-hourly simple moving average.
\nThere is a connecting bearish trend line forming with resistance at $132 on the hourly chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could gain bullish momentum if it clears the $132 resistance zone.<\/p>\n

Solana Price Holds Support<\/h2>\n

Solana price started a fresh decline from the $140 resistance zone like Bitcoin<\/a> and Ethereum<\/a>. SOL declined below the $135 and $132 support levels. It even tested $128.<\/p>\n

A low was formed at $128.85 and the price is now consolidating losses. There was a minor increase above the $130 level. The price even tested the 23.6% Fib retracement level of the downward move from the $139.83 swing high to the $128.85 low.<\/p>\n

Solana is now trading below $132 and the 100-hourly simple moving average. There is also a connecting bearish trend line forming with resistance at $132 on the hourly chart of the SOL\/USD pair.<\/p>\n

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

On the upside, the price is facing resistance near the $132 level. The next major resistance is near the $135 level or the 50% Fib retracement level of the downward move from the $139.83 swing high to the $128.85 low. A successful close above the $132 and $135 resistance levels could set the pace for another steady increase. The next key resistance is near $140. Any more gains might send the price toward the $150 level.<\/p>\n

More Downsides 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 $130 level. The first major support is near the $128 level.<\/p>\n

A break below the $128 level might send the price toward the $120 zone. If there is a close below the $120 support, the price could decline toward the $110 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 near the 50 level.<\/p>\n

Major Support Levels \u2013 $130 and $128.<\/p>\n

Major Resistance Levels \u2013 $132 and $135.<\/p>","protected":false},"excerpt":{"rendered":"

Solana declined and tested the $128 support zone. SOL price is consolidating losses and might aim for a fresh increase above the $132 resistance. SOL price started a consolidation phase from the $128 zone against the US Dollar. The price is now trading below $135 and the 100-hourly simple moving average. There is a connecting […]<\/p>\n","protected":false},"author":0,"featured_media":7255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7254","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\/7254"}],"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=7254"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/7254\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/7255"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}