Solana started a new decrease in the $ 188 zone. Sol Price is now lower and can fall further below the level of $ 170.
- Sol Price started a new fall in the $ 188 resistance zone against the US dollar.
- The price is now traded under $ 180 and the 100-hour simple advancing average.
- There is a connecting Bearish trend line that forms with resistance at $ 176 on the hour table of the SOL/USD pair (data source of Kraken).
- The couple can start a new increase if it knew the $ 180 resistance zone.
Solana -Price is falling again
Solana Price formed a base over the support of $ 170 and started a new increase, such as Bitcoin and Ethereum. Sol got pace for a movement above the resistance levels of $ 172 and $ 175.
The price tested the $ 188 resistance before there was a new decrease to $ 170. A low point was formed near $ 170 and the price recently tried a new increase. The price knew the level of $ 172. It surpassed the 23.6% FIB retracement level of the recent decrease of the $ 188 swing high to $ 170 low.
Solana now acts under $ 180 and the 100-hour simple advancing average. There is also a connecting Bearish trend line that forms with resistance at $ 176 on the hour table of the SOL/USD pair.
At the top the price is confronted with resistance near the level of $ 176. The next major resistance is near the level of $ 180. The most important resistance can be $ 185. A successful closure above the $ 185 resistance zone could determine the pace for a new steady increase. The next key resistance is $ 192. More profits can send the price to the $ 200 level.
Another decline in Sol?
If Sol does not exceed $ 176 resistance, this can start a new decline. The first support on the disadvantage is near the $ 172 zone. The first major support is near the $ 170 level.
A break below the level of $ 170 can send the price to the $ 165 zone and the trend line. If there is an end under the support of $ 165, the price can fall to the $ 160 support in the short term.
Technical indicators
Hourly MacD – The MACD for SOL/USD wins pace in the bearish zone.
Hours -hours RSI (relative strength -index) -The RSI for SOL/USD is below the 50 level.
Important support levels – $ 172 and $ 170.
Large resistance levels – $ 176 and $ 180.