Solana started a new increase above $ 232 zone. Sol Price now corrects the profits below $ 240 and can strive for a new increase if it remains above $ 20.
- Sol Price started a new upward movement above $ 232 and $ 240 levels against the US dollar.
- The price is now traded under $ 240 and the 100-hour simple advancing average.
- There was a break under a bullish trend line with support for $ 242 on the hour table of the SOL/USD pair (data source of Kraken).
- The couple can extend losses if it drops under the $ 230 zone.
Solana -Price Dips below Support
Solana Price started a considerable elevation after it had found support near the $ 212 zone, which defeated Bitcoin and Ethereum. Sol climbed above the level of $ 232 to enter a positive zone in the short term.
The price even made the $ 240 resistance. The bulls could push the prize above the barrier of $ 245. A high was formed at $ 250 and the price recently corrected some profit. There was a movement below the 23.6% FIB retracement level of the upward movement from the $ 200 swing low to $ 250 high.
In addition, there was a break under a bullish trend line with support for $ 242 on the hour table of the SOL/USD pair. Solana now acts under $ 240 and the 100-hour simple advancing average.
In addition, the price is confronted with resistance near the level of $ 238. The next major resistance is near the $ 240 level. The most important resistance can be $ 245. A successful closure above the $ 245 resistance zone could determine the pace for a new steady increase. The next key resistance is $ 255. More profits can send the price to the $ 262 level.
More losses in Sol?
If Sol does not exceed $ 240 resistance, this can start a new decline. The first support on the other hand is near the $ 232 zone. The first major support is near the $ 230 level or the 50% FIB retracement level of the upward movement from the $ 200 swing low to $ 250 high.
A break below the level of $ 230 can send the price to the $ 224 support zone. If there is an end under the support of $ 224, the price can fall to the support of $ 220 in the short term.
Technical indicators
Hourly MacD – The MACD for SOL/USD loses pace in the bullish zone.
Hours -hours RSI (relative strength -index) -The RSI for SOL/USD is below the 50 level.
Important support levels – $ 230 and $ 224.
Important resistance levels – $ 240 and $ 245.