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The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/sol-price-analysis-heres-how-bears-control-solana-price-trend/">SOL Price Analysis: Here’s How Bears Control Solana Price Trend!</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Struggling to sustain a positive trend, the SOL price trend displays a streak of lower high formations. Falling 35% from the swing high of $27 to test the $17.27 support level, the downtrend breaks the crucial EMAs and leads to a death cross.&nbsp; 
Moreover, a bearish pattern arises with the recent failure of the bullish rally to cross above the 50-day EMA.&nbsp; 
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 <img decoding="async" width="1024" height="463" src="https://image.coinpedia.org/wp-content/uploads/2023/09/22113054/SOLUSD_2023-09-22_10-49-20-1024x463.png" alt="" class="wp-image-231921" srcset="https://image.coinpedia.org/wp-content/uploads/2023/09/22113054/SOLUSD_2023-09-22_10-49-20-1024x463.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/09/22113054/SOLUSD_2023-09-22_10-49-20-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/09/22113054/SOLUSD_2023-09-22_10-49-20-768x347.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/09/22113054/SOLUSD_2023-09-22_10-49-20-1536x694.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/09/22113054/SOLUSD_2023-09-22_10-49-20-150x68.png 150w, https://image.coinpedia.org/wp-content/uploads/2023/09/22113054/SOLUSD_2023-09-22_10-49-20.png 1952w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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With a remarkable 15% recovery over the past week, the SOL price jumped to the high of $20. However, the psychological resistance of the crucial price level and the 50-day EMA led to a sharp 4% fall. Moreover, the fall aligns with the market correction as Bitcoin plunges below $27K.&nbsp; 
The 4% fall makes a bearish engulfing and highlights an overhead resistance trendline, forming a bear channel. Currently, the SOL price hinges at the $19.45 level of the 61.80% Fibonacci level. 
Check our <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/" rel="noopener noreferrer nofollow">Solana Price Prediction 2023-2030</a> now to know in detail about the Solana price trend. 
Currently, the SOL price is trading at $19.64 with an intraday growth of 0.41%, the bullish sprout may soon hither away under bearish pressure. This hints at a potential downtrend continuation in the falling channel.&nbsp; 
Technical Indicators: 
With some hope left in the technical indicators, the MACD and RSI indicators are yet to reflect a significant change.&nbsp; 
MACD indicator: The MACD and signal lines shift sideways with declining histograms, warning of a bearish crossover.&nbsp; 
RSI indicator: The RSI line dips close to the halfway line but sustains above the 14-day SMA.&nbsp; 
<h2 class="wp-block-heading" id="h-will-the-sol-price-cross-20">Will the SOL price Cross $20?</h2> 
With the bearish channel in place and the downtrend set in motion, the chances of a bullish reversal in SOL price seem minimal. The volatility close to $19.45 is razor-sharp and might soon result in a quick move on either side.&nbsp; 
The SOL price must remain above $19.45 for buyers to retake the $20 level and prepare for a breakout. On the flip side, a steep correction to $17.27 is possible if the price fails to hold.

SOL Price Analysis: Here’s How Bears Control Solana Price Trend!

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