Solana (SOL) at Risk: Could More Losses Be on The Horizon?
Solana’s new decline is less than 250 US dollars. The price of SOL is merged and may face resistance at the level of $ 235 and $ 242.
- Sol Price’s fresh decrease is below $ 250 and $ 240.
- The current price is less than $ 240, and the simple moving average of 100 hours is the same.
- In the SOL/USD pair of hours, there is a key point of view of the trend line with a resistance of $ 235 (data source from Kraken).
- If the Bulls cleared for $ 242, the two may start a new growth.
Solana’s price fell below $ 250
Solana Price Bitcoin and EthereumEssence SOL has fallen below $ 250 and $ 242.
It is even less than $ 230. The recent low is formed at a price of $ 225, and the price is now consolidating losses. It climbed to more than $ 230. It cleared the 23.6 % FIB retracement level from the autumn of $ 244 to a low of 225 US dollars.
Solana’s current transaction is less than $ 240, while the 100 -hour simple moving average. In good aspects, the price is facing a resistance of $ 235, or from a swinging high of $ 244 to a 50 % FIB recycling level at a low of $ 225.
On the Sol/USD pair of charts, there is also a key drop trend line with a resistance of $ 235. The next main resistance is nearly $ 242. The main resistance may be $ 250. The successful closing of the resistance area of ​​more than 250 US dollars may set the pace of another stable growth. The next key resistance is $ 260. More income may transfer the price to the level of $ 275.
Another reduction of SOL?
If SOL cannot exceed $ 235, it may decrease again. The initial support of the disadvantages is near $ 225. The first main support is nearly $ 222.
The rest time below $ 222 may transfer the price to a $ 212 area. If the support of less than $ 22, the price may fall to US $ 200 in the short term.
Technical indicator
MACD -SOL/USD’s MACD per hour has lost its pace at the bullish area.
The hour and hour RSI (relative strength index) -Sol/USD’s RSI is less than 50.
Main support level-$ 225 and 222.
The main resistance level-$ 235 and 242.
