bullish

Solana

Test

Bitcoin

Resistance

Solana extended gains above $180. SOL price is now struggling to reach the $200 level and showing some signs of a downside correction. 
<ul> 
 <li>SOL price started a downside correction from the $192 zone against the US Dollar.</li> 
 <li>The price is now trading below $185 and the 100-hourly simple moving average.</li> 
 <li>There was a break below a key bullish trend line with support at $187 on the hourly chart of the SOL/USD pair (data source from Kraken).</li> 
 <li>The pair could start another increase unless it settles below the $175 support.</li> 
</ul> 
<h2 id="solana-price-fails-to-test-200">Solana Price Fails To Test $200</h2> 
Solana price remained in a positive zone and extended gains, beating <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-pulls-back-70k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-stabilizes-3250/" target="_blank" rel="noopener ">Ethereum</a>. It traded above the $180 and $185 resistance levels. Finally, it tested the $192 zone and struggled to reach $200. 
A high was formed near $193.86 and the price started a downside correction. There was a move below the $190 and $188 support levels. The price dipped below the 23.6% Fib retracement level of the upward move from the $165 swing low to the $193 high. 
Besides, there was a break below a key bullish trend line with support at $187 on the hourly chart of the SOL/USD pair. Solana is now trading below $185 and the 100-hourly simple moving average. 
The bulls are now active near the $180 support and the 50% Fib retracement level of the upward move from the $165 swing low to the $193 high. On the upside, the price is facing resistance near the $185 level. The next major resistance is near the $188 level. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_70c4ce.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-632172 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_70c4ce.png?resize=1024%2C461" alt="Solana Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_70c4ce.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_70c4ce.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_70c4ce.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_70c4ce.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_70c4ce.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_70c4ce.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana_70c4ce.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
A successful close above the $188 resistance could set the pace for another steady increase. The next key resistance is near $192. Any more gains might send the price toward the $200 level. 
<h2 id="more-losses-in-sol">More Losses in SOL?</h2> 
If SOL fails to rise above the $185 resistance, it could start another decline. Initial support on the downside is near the $180 level. The first major support is near the $175 level. 
A break below the $175 level might send the price toward $165. If there is a close below the $165 support, the price could decline toward the $155 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 – $180 and $175. 
Major Resistance Levels – $185 and $188.

Solana Price (SOL) Faces Challenges at $200: Bulls Remain Active

Obsah

NewsBTC

Ďalšie články zverejnené 30. 7. 2024

2 Cold Storage REITs to Buy as Industry Heats Up

Analyst Identifies Bullish Pattern That Can Send XRP Price To New Highs

When is the Next Crypto Bull Run and How Far Will Bitcoin (BTC) Price Go?

Why Do We Need an RWA Tokenized Lending Blockchain Protocol?

Crypto Kings: MOONHOP Reigns With Over $1M In Presale as PlayDoge & PawFury Hustle for Silver

Rho Markets Hit by $7.5M Hack, Attackers Demand Admission of Oracle Error for Fund Return

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!