Solana started a new decrease in the $ 200 zone. Sol Price has fallen by more than 10% and may even have difficulty staying above $ 175 support zone.
- Sol Price started a new decrease under $ 200 and $ 185 levels against the US dollar.
- The price is now traded under $ 185 and the 100-hour simple advancing average.
- There is a connecting Bearish trend line that forms with resistance at $ 182 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 $ 185 zone.
Solana -Prize will fall further
Solana Price struggled to erase the $ 205 resistance and started a new decrease, under performance Bitcoin and Ethereum. Sol fell under the support levels of $ 200 and $ 192.
It even went below the $ 185 level. The recent low point was formed at $ 174 and the price now consolidates losing with a bearish corner below the 23.6% FIB retraction level of the downward movement of the $ 205 swing high to $ 174 Swing Low.
Solana now acts under $ 185 and the 100-hour simple advancing average. At the top the price is confronted with resistance near the level of $ 182. There is also a connecting Bearish trend line that forms with resistance at $ 182 on the hour table of the SOL/USD pair.
The next major resistance is near the $ 185 level. The most important resistance can be $ 190 and the 50% FIB retracement level of the downward movement of the $ 205 Swing High to $ 174 Swing Low.
A successful closure above the $ 190 resistance zone could determine the pace for a new steady increase. The next key resistance is $ 198. More profits can send the price to the $ 205 level.
Another decline in Sol?
If Sol does not exceed $ 185 resistance, this can start a new decline. The first support on the disadvantage is near the $ 174 zone. The first major support is near the $ 170 level.
A break below the $ 170 level can send the price to the $ 165 zone. If there is an end under the support of $ 165, the price can fall to the $ 150 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 – $ 174 and $ 170.
Large resistance levels – $ 182 and $ 185.