{"id":12650,"date":"2022-11-24T06:55:26","date_gmt":"2022-11-24T10:55:26","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=12650"},"modified":"2022-11-24T06:55:26","modified_gmt":"2022-11-24T10:55:26","slug":"solana-price-prediction-why-upsides-could-be-limited-in-sol","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/24\/solana-price-prediction-why-upsides-could-be-limited-in-sol\/","title":{"rendered":"Solana Price Prediction: Why Upsides Could Be Limited in SOL"},"content":{"rendered":"

Solana tumbled below the $20 and $15 levels against the US Dollar. SOL price is now recovering, but upsides might be limited above $15 and $17.<\/em><\/p>\n

Sol price traded as low as $10.92 before it recovered a few points against the US Dollar.
\nThe price is now trading below $15 and the 100 simple moving average (4-hours).
\nThere was a break above a major bearish trend line with resistance near $12.45 on the 4-hours chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could face a strong selling interest near $15 and $17 in the coming days.<\/p>\n

Solana Price Starts Short-Term Recovery<\/h2>\n

This month, solana price saw a strong downward move below the $30 level. There was a strong move below the $25 and $20 support levels.<\/p>\n

Sol price even dumped below the $15 level. Finally, it found support near $11 and traded as low as $10.92. Recently, there was a minor upside correction similar to bitcoin<\/a> and ethereum<\/a>. The price was able to climb above the $11.50 and $11.85 levels.<\/p>\n

Besides, there was a break above a major bearish trend line with resistance near $12.45 on the 4-hours chart of the SOL\/USD pair. However, the pair is still trading below $15 and the 100 simple moving average (4-hours).<\/p>\n

On the upside, an immediate resistance is near the $15 level and the 100 simple moving average (4-hours). The next major resistance is near the $17 zone. It is close to the 23.6% Fib retracement level of the main drop from the $38.75 swing high to $10.92 low.<\/p>\n

<\/a><\/p>\n

Source: SOLUSD on TradingView.com<\/a><\/p>\n

A close above the $17 zone might send the price towards the $20 level in the near term. Any more gains might send the price towards the $25 level.<\/p>\n

Fresh Decline in SOL?<\/h2>\n

If SOL fails to clear the $15 resistance, it could start a fresh decline. An initial support on the downside is near the $13.00 level.<\/p>\n

The first major support is near the $12 level. The next major support is near the $11 level or the recent low. If there is a downside break below the $11 support, the bears might even push the price below $10.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for BNB\/USD is losing pace in the bearish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for BNB\/USD is currently above the 50 level.<\/p>\n

Major Support Levels \u2013 $13, $12 and $11.<\/p>\n

Major Resistance Levels \u2013 $15, $17 and $20.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Solana tumbled below the $20 and $15 levels against the US Dollar. SOL price is now recovering, but upsides might be limited above $15 and $17.<\/em><\/p>\n

Sol price traded as low as $10.92 before it recovered a few points against the US Dollar.
\nThe price is now trading below $15 and the 100 simple moving average (4-hours).
\nThere was a break above a major bearish trend line with resistance near $12.45 on the 4-hours chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could face a strong selling interest near $15 and $17 in the coming days.<\/p>\n

Solana Price Starts Short-Term Recovery<\/h2>\n

This month, solana price saw a strong downward move below the $30 level. There was a strong move below the $25 and $20 support levels.<\/p>\n

Sol price even dumped below the $15 level. Finally, it found support near $11 and traded as low as $10.92. Recently, there was a minor upside correction similar to bitcoin<\/a> and ethereum<\/a>. The price was able to climb above the $11.50 and $11.85 levels.<\/p>\n

Besides, there was a break above a major bearish trend line with resistance near $12.45 on the 4-hours chart of the SOL\/USD pair. However, the pair is still trading below $15 and the 100 simple moving average (4-hours).<\/p>\n

On the upside, an immediate resistance is near the $15 level and the 100 simple moving average (4-hours). The next major resistance is near the $17 zone. It is close to the 23.6% Fib retracement level of the main drop from the $38.75 swing high to $10.92 low.<\/p>\n

<\/a><\/p>\n

Source: SOLUSD on TradingView.com<\/a><\/p>\n

A close above the $17 zone might send the price towards the $20 level in the near term. Any more gains might send the price towards the $25 level.<\/p>\n

Fresh Decline in SOL?<\/h2>\n

If SOL fails to clear the $15 resistance, it could start a fresh decline. An initial support on the downside is near the $13.00 level.<\/p>\n

The first major support is near the $12 level. The next major support is near the $11 level or the recent low. If there is a downside break below the $11 support, the bears might even push the price below $10.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for BNB\/USD is losing pace in the bearish zone.<\/p>\n

4-Hours RSI (Relative Strength Index) \u2013 The RSI for BNB\/USD is currently above the 50 level.<\/p>\n

Major Support Levels \u2013 $13, $12 and $11.<\/p>\n

Major Resistance Levels \u2013 $15, $17 and $20.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-12650","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/12650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=12650"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/12650\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=12650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=12650"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=12650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}