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Solana (SOL) Teeters on the Edge: Is a Steep Decline Next?

January 13, 2025Updated:January 13, 2025No Comments3 Mins Read
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Solana (SOL) Teeters on the Edge: Is a Steep Decline Next?
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Solana did not clear the $205 resistance and trimmed good points. SOL worth is now under $192 and exhibiting a couple of bearish indicators.

  • SOL worth began a recent decline after it failed to remain above $200 towards the US Greenback.
  • The value is now buying and selling under $192 and the 100-hourly easy transferring common.
  • There’s a connecting bearish development line forming with resistance at $190 on the hourly chart of the SOL/USD pair (knowledge supply from Kraken).
  • The pair might begin a recent improve if the bulls clear the $192 zone.

Solana Worth Dips Once more

Solana worth struggled to clear the $200-$205 zone and began a recent decline, like Bitcoin and Ethereum. There was a transfer under the $200 and $192 assist ranges.

The value even dipped under the $185 assist. A low was shaped at $182.20, and the worth is now consolidating losses under the 23.6% Fib retracement degree of the downward transfer from the $223 swing excessive to the $182 low.

Solana is now buying and selling under $192 and the 100-hourly easy transferring common. There may be additionally a connecting bearish development line forming with resistance at $190 on the hourly chart of the SOL/USD pair. On the upside, the worth is dealing with resistance close to the $190 degree.

Solana (SOL) Teeters on the Edge: Is a Steep Decline Next?

The subsequent main resistance is close to the $192 degree. The primary resistance might be $200 or the 50% Fib retracement degree of the downward transfer from the $223 swing excessive to the $182 low. A profitable shut above the $200 resistance zone might set the tempo for one more regular improve. The subsequent key resistance is $212. Any extra good points would possibly ship the worth towards the $225 degree.

One other Decline in SOL?

If SOL fails to rise above the $192 resistance, it might begin one other decline. Preliminary assist on the draw back is close to the $182 degree. The primary main assist is close to the $180 degree.

A break under the $180 degree would possibly ship the worth towards the $175 zone. If there’s a shut under the $175 assist, the worth might decline towards the $162 assist within the close to time period.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining tempo within the bearish zone.

Hourly Hours RSI (Relative Energy Index) – The RSI for SOL/USD is under the 50 degree.

Main Assist Ranges – $182 and $180.

Main Resistance Ranges – $190 and $192.



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Decline Edge SOL Solana Steep Teeters
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