Solana Takes Hit and Could Dive To $15


Solana is gaining bearish momentum under $20 towards the US Greenback. SOL worth is struggling and will drop additional towards $16.50 and even $15.00.

  • SOL worth is displaying bearish indicators under $20.00 and $20.50 towards the US Greenback.
  • The value is now buying and selling under $20 and the 100 easy shifting common (4 hours).
  • There’s a main bearish pattern line forming with resistance close to $19.20 on the 4-hour chart of the SOL/USD pair (information supply from Kraken).
  • The pair might proceed to down if there’s a shut under the $17.80 help.

Solana Worth Drops Additional

Up to now few days, Solana’s worth made a few makes an attempt to clear the $22.00 resistance. Nonetheless, SOL failed to realize power for a transfer above the $22.00 stage.

Consequently, there was a recent bearish response under the $21.20 help, like Bitcoin and Ethereum. Extra importantly, FTX’s information of a doable promoting of SOL can also be placing quite a lot of stress on the bulls. The value gained bearish momentum and traded under the $20.00 help.

Lastly, it discovered help close to $17.80. A low is shaped close to $17.78 and the value is now consolidating losses. SOL is now buying and selling under $20 and the 100 easy shifting common (4 hours).

Apart from, there’s a main bearish pattern line forming with resistance close to $19.20 on the 4-hour chart of the SOL/USD pair. On the upside, quick resistance is close to the $18.50 stage or the 23.6% Fib retracement stage of the downward transfer from the $20.59 swing excessive to the $17.78 low.

SOL Price Prediction

Supply: SOLUSD on TradingView.com

The primary main resistance is close to the $19.20 stage or the pattern line. The subsequent key resistance is close to the 76.4% Fib retracement stage of the downward transfer from the $20.59 swing excessive to the $17.78 low at $20.00. A transparent transfer above the $20.00 resistance would possibly ship the value towards the $21.20 resistance. Any extra good points would possibly ship the value towards the $22 stage.

Extra Losses in SOL?

If SOL fails to clear the $19.20 resistance, it might proceed to maneuver down. Preliminary help on the draw back is close to the $17.80 stage.

The primary main help is close to the $17.20 stage. If there’s a shut under the $17.20 help, the value might decline towards the $16.50 help. Within the acknowledged case, there’s a danger of extra downsides towards the $15.00 help within the close to time period.

Technical Indicators

4-Hours MACD – The MACD for SOL/USD is gaining tempo within the bearish zone.

4-Hours RSI (Relative Power Index) – The RSI for SOL/USD is under the 50 stage.

Main Help Ranges – $17.80, and $17.20.

Main Resistance Ranges – $19.20, $20.00, and $22.00.



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