Solana started a new decrease in the $ 210 zone. Sol Price is consolidating and can strive for a new movement above the $ 200 resistance zone.
- Sol Price started a new decrease below $ 205 and $ 200 levels against the US dollar.
- The price is now traded under $ 200 and the 100-hour simple advancing average.
- There is a connecting Bearish trend line that forms with resistance at $ 198 on the hour table of the SOL/USD pair (Data Source of Kraken).
- The couple could start a new increase if the bulls erase the $ 200 zone.
Solana Price stands for obstacles
Solana Price struggled to erase the $ 210 resistance and started a new decrease, such as Bitcoin and Ethereum. Sol fell under the support levels of $ 202 and $ 200.
It even went below the level of $ 192. The recent low point was formed at $ 188 before the price started a recovery wave. There was a movement above the levels of $ 190 and $ 192. The price knew the 23.6% FIB retracement level of the downward movement of the $ 209 Swing high to $ 188 swing low.
The bears, however, are active below the $ 200 level. They protected the 50% FIB retracement level of the downward movement of the $ 209 Swing high to $ 188 swing low.
Solana is now traded above $ 200 and the 100-hour simple advancing average. Moreover, the price is confronted with resistance near the level of $ 198. There is also a connecting Bearish trend line that forms with resistance at $ 198 on the hour table of the SOL/USD pair.
The next major resistance is near the $ 200 level. The most important resistance can be $ 202. A successful closure above the $ 202 resistance zone could determine the pace for a new steady increase. The next key resistance is $ 210. More profits can send the price to the $ 220 level.
Another decline in Sol?
If Sol does not exceed $ 200 resistance, this can start a new decrease. The first support for the disadvantage is near the $ 194 zone. The first major support is near the level of $ 188.
A break below the level of $ 188 can send the price to the $ 180 zone. If there is an end under the support of $ 180, the price can fall to the support of $ 175 in the short term.
Technical indicators
Hourly MacD – The MacD for SOL/USD wins pace in the Bullish Zone.
Hours -hours RSI (relative strength -index) -The RSI for SOL/USD is above 50 level.
Important support levels – $ 194 and $ 188.
Large resistance levels – $ 200 and $ 202.