Solana started a new decline below $ 225 zone. Sol Price is now trying to recover from $ 192 and is confronted with obstacles near $ 215.
- Sol Price started a new decrease under $ 225 and $ 220 against the US dollar.
- The price is now traded above $ 200 and the 100-hour simple advancing average.
- There was a break over an important bearish trend line with resistance at $ 200 on the hour table of the SOL/USD pair (Data Source of Kraken).
- The price can start a new decrease if it remains below $ 215 and $ 220.
Solana -Price is falling again
Solana Price could not stay above $ 220 and started a new decrease, such as Bitcoin and Ethereum. Sol traded under the support levels of $ 212 and $ 205 to enter a bearish zone.
The bears even pushed the price below $ 200 and the 100-hour simple advancing average. A low was formed at $ 191 and the price recently started a recovery wave above the 23.6% FIB retracement level of the downward movement of the $ 242 Swing high to $ 191 low.
Moreover, there was a break above an important bearish trend line with resistance at $ 200 on the hour table of the SOL/USD pair. Solana is now traded above $ 200 and the 100-hour simple advancing average.
If there are more profits, the price may experience the resistance near the $ 212 level. The next major resistance is near the $ 215 level or the 50% FIB retraction level of the downward movement of the $ 242 Swing high to $ 191 low. The most important resistance can be $ 220.
A successful closure above the $ 220 resistance zone could determine the pace for a new steady increase. The next key resistance is $ 230. More profits can send the price to the $ 242 level.
Another decline in Sol?
If Sol does not exceed $ 215 resistance, this can continue to move. The first support on the other hand is near the $ 202 zone. The first major support is close to the $ 200 level.
A break below the $ 200 level can send the price to the $ 192 support zone. If there is an end under the support of $ 192, the price can fall to the support of $ 180 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 – $ 202 and $ 200.
Important resistance levels – $ 215 and $ 220.