Solana started a new decrease in the $ 250 zone. Sol Price now shows Beerarish signs and can even fall in the direction of the support of $ 200.
- Sol Price started a new decrease under $ 240 and $ 230 against the US dollar.
- The price is now traded under $ 220 and the 100-hour simple advancing average.
- There is an important bearish trend line that forms with resistance at $ 222 on the hour table of the SOL/USD pair (Data Source of Kraken).
- The price can increase if it remains below $ 215 and $ 222.
Solana -Price is falling again
Solana Price could not stay above $ 250 and started a new decrease, such as Bitcoin and Ethereum. Sol traded under the support levels of $ 240 and $ 232 to enter a bearish zone.
The bears even pushed the price below $ 220 and the 100-hour simple advancing average. A low point was formed at $ 207 and the price now consolidates losses below the 23.6% FIB retracement level of the downward movement of the $ 254 swing high to $ 207 low.
Solana is now trading under $ 220 and the 100-hour simple advancing average. Moreover, there is an important bearish trend line that forms with resistance at $ 222 on the hour table of the SOL/USD pair.
If there is a recovery wave, the price can undergo the resistance near the level of $ 215. The next major resistance is near the level of $ 220 or the trend line. The main resistance can be $ 230 or the FIB racement level of 50% of the downward movement from the $ 254 swing high to $ 207 low.
A successful closure above the $ 230 resistance zone could determine the pace for a new steady increase. The next key resistance is $ 242. More profits can send the price to the $ 250 level.
More losses in Sol?
If Sol does not exceed $ 222 resistance, this can continue to move. The first support on the other hand is near the $ 207 zone. The first major support is close to the $ 202 level.
A break below the $ 202 level can send the price to the $ 200 support zone. If there is an end under the support of $ 200, the price can fall to the $ 184 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 – $ 202 and $ 200.
Important resistance levels – $ 215 and $ 222.