Reason to trust

How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Solana started a fresh decline from the $200 zone. SOL price is down over 10% and might even struggle to stay above the $175 support zone.
- SOL price started a fresh decline below the $200 and $185 levels against the US Dollar.
- The price is now trading below $185 and the 100-hourly simple moving average.
- There is a connecting bearish trend line forming with resistance at $182 on the hourly chart of the SOL/USD pair (data source from Kraken).
- The pair could start a fresh increase if the bulls clear the $185 zone.
Solana Price Dips Further
Solana price struggled to clear the $205 resistance and started a fresh decline, underperforming Bitcoin and Ethereum. SOL declined below the $200 and $192 support levels.
It even dived below the $185 level. The recent low was formed at $174 and the price is now consolidating losses with a bearish angle below the 23.6% Fib retracement level of the downward move from the $205 swing high to the $174 swing low.
Solana is now trading below $185 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $182 level. There is also a connecting bearish trend line forming with resistance at $182 on the hourly chart of the SOL/USD pair.
The next major resistance is near the $185 level. The main resistance could be $190 and the 50% Fib retracement level of the downward move from the $205 swing high to the $174 swing low.

A successful close above the $190 resistance zone could set the pace for another steady increase. The next key resistance is $198. Any more gains might send the price toward the $205 level.
Another Decline in SOL?
If SOL fails to rise above the $185 resistance, it could start another decline. Initial support on the downside is near the $174 zone. The first major support is near the $170 level.
A break below the $170 level might send the price toward the $165 zone. If there is a close below the $165 support, the price could decline toward the $150 support in the near term.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining pace in the bearish zone.
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level.
Major Support Levels – $174 and $170.
Major Resistance Levels – $182 and $185.