Solana Rebound 🚀 – Is Momentum Returning or Just a Pause Before Bears Strike?
Below $225, Solana fell again. SOL is trying to rebound from $192 and facing challenges approaching $215.
Below $225 and $220 versus the US Dollar, SOL price fell again.
The price is over $200 and the 100-hourly SMA.
SOL/USD broke over a negative trend line with resistance at $200 on the hourly chart.
The price may fall again if it continues below $215 and $220.
Again, Solana Prices Fall
Like Bitcoin and Ethereum, Solana fell below $220. SOL entered a bearish zone below $212 and $205 support.
Bears drove the price below $200 and the 100-hourly SMA. The price created a bottom around $191 and launched a rebound wave above the 23.6% Fib retracement level of the decline from the $242 swing high.
On the hourly SOL/USD chart, a bearish trend line with resistance at $200 was broken. Above $200 and the 100-hourly simple moving average, Solana trades.
Price advances may encounter resistance at $212. The next big obstacle is $215, the 50% Fib retracement level of the decline from the $242 swing high to the $191 low. Main resistance may be $220.
Close above the $220 barrier zone might start another steady rise. The next hurdle is $230. More advances might push the price toward $242.
Another SOL Drop?
SOL may fall if it fails to break $215 resistance. At $202, downside support begins. First big support is around $200.
A fall below $200 might drive pricing to $192. If the price closes below $192, it may fall below $180.
Tech Indicators
SOL/USD hourly MACD is rising in the positive zone.
Hourly RSI – RSI for SOL/USD is over 50.
Major Support Levels: $202 and $200.
Two major resistance levels: $215 and $220.
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