Solana started a caller diminution from the $250 zone. SOL terms is present showing bearish signs and mightiness adjacent diminution toward the $200 support.
- SOL terms started a caller diminution beneath $240 and $230 against the US Dollar.
- The terms is present trading beneath $220 and the 100-hourly elemental moving average.
- There is simply a cardinal bearish inclination enactment forming with absorption astatine $222 connected the hourly illustration of the SOL/USD brace (data root from Kraken).
- The terms could widen losses if it stays beneath $215 and $222.
Solana Price Dips Again
Solana terms failed to enactment supra $250 and started a caller decline, similar Bitcoin and Ethereum. SOL traded beneath the $240 and $232 enactment levels to participate a bearish zone.
The bears adjacent pushed the terms beneath $220 and the 100-hourly elemental moving average. A debased was formed astatine $207 and the terms is present consolidating losses beneath the 23.6% Fib retracement level of the downward determination from the $254 plaything precocious to the $207 low.
Solana is present trading beneath $220 and the 100-hourly elemental moving average. Besides, determination is simply a cardinal bearish inclination enactment forming with absorption astatine $222 connected the hourly illustration of the SOL/USD pair.
If determination is simply a betterment wave, the terms could look absorption adjacent the $215 level. The adjacent large absorption is adjacent the $220 level oregon the inclination line. The main absorption could beryllium $230 oregon the 50% Fib retracement level of the downward determination from the $254 plaything precocious to the $207 low.
A palmy adjacent supra the $230 absorption portion could acceptable the gait for different dependable increase. The adjacent cardinal absorption is $242. Any much gains mightiness nonstop the terms toward the $250 level.
More Losses In SOL?
If SOL fails to emergence supra the $222 resistance, it could proceed to determination down. Initial enactment connected the downside is adjacent the $207 zone. The archetypal large enactment is adjacent the $202 level.
A interruption beneath the $202 level mightiness nonstop the terms toward the $200 enactment zone. If determination is simply a adjacent beneath the $200 support, the terms could diminution toward the $184 enactment successful the adjacent term.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining gait successful the bearish zone.
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is beneath the 50 level.
Major Support Levels – $202 and $200.
Major Resistance Levels – $215 and $222.
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