{"id":14885,"date":"2022-12-28T06:57:09","date_gmt":"2022-12-28T10:57:09","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=14885"},"modified":"2022-12-28T06:57:09","modified_gmt":"2022-12-28T10:57:09","slug":"solana-price-prediction-why-sol-could-dive-another-50","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/12\/28\/solana-price-prediction-why-sol-could-dive-another-50\/","title":{"rendered":"Solana Price Prediction: Why SOL Could Dive Another 50%"},"content":{"rendered":"

Solana is accelerating lower below $12 and $10 levels against the US Dollar. SOL price remains at a risk of a move towards the $7.50 and $7.00 levels.<\/em><\/p>\n

Sol price is struggling and trading well below the $12 level against the US Dollar.
\nThe price is now trading below $10 and the 100 simple moving average (4-hours).
\nThere is a major bearish trend line forming with resistance near $10.55 on the 4-hours chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could face a strong selling interest near $10.55 and $12 in the coming days.<\/p>\n

Solana Price Gains Bearish Momentum<\/h2>\n

This month, solana price saw a strong decline from the $15 resistance zone. There was a drop below the $13.50 and $12 support levels to move into a bearish zone again.<\/p>\n

Sol price even dumped below the $10 level and the 100 simple moving average (4-hours). The price traded as low as $9.66 and is currently consolidating losses. There are clear strong bearish signs below the $10 level, unlike bitcoin<\/a> and ethereum<\/a>.<\/p>\n

Besides, there is a major bearish trend line forming with resistance near $10.55 on the 4-hours chart of the SOL\/USD pair. On the upside, an immediate resistance is near the $10.55 level and the trend line.<\/p>\n

The first major resistance is near the $11 level. It is close to the 23.6% Fib retracement level of the main drop from the $14.95 swing high to $9.66 low. The next major resistance is near the $12 zone, above which the price might rise towards the 100 simple moving average (4-hours).<\/p>\n

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

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

The 50% Fib retracement level of the main drop from the $14.95 swing high to $9.66 low is also near $12.30 to act as a strong resistance. Any more gains might send the price towards the $15 level.<\/p>\n

More Losses in SOL?<\/h2>\n

If SOL fails to clear the $10.55 resistance, it could continue to move down. An initial support on the downside is near the $9.65 level.<\/p>\n

The first major support is near the $9.20 level. The next major support is near the $8.20 level. If there is a downside break below the $8.20 support, the bears might even push the price below $7.50.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $9.65, $9.20 and $8.20.<\/p>\n

Major Resistance Levels \u2013 $10.55, $11 and $12.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Solana is accelerating lower below $12 and $10 levels against the US Dollar. SOL price remains at a risk of a move towards the $7.50 and $7.00 levels.<\/em><\/p>\n

Sol price is struggling and trading well below the $12 level against the US Dollar.
\nThe price is now trading below $10 and the 100 simple moving average (4-hours).
\nThere is a major bearish trend line forming with resistance near $10.55 on the 4-hours chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could face a strong selling interest near $10.55 and $12 in the coming days.<\/p>\n

Solana Price Gains Bearish Momentum<\/h2>\n

This month, solana price saw a strong decline from the $15 resistance zone. There was a drop below the $13.50 and $12 support levels to move into a bearish zone again.<\/p>\n

Sol price even dumped below the $10 level and the 100 simple moving average (4-hours). The price traded as low as $9.66 and is currently consolidating losses. There are clear strong bearish signs below the $10 level, unlike bitcoin<\/a> and ethereum<\/a>.<\/p>\n

Besides, there is a major bearish trend line forming with resistance near $10.55 on the 4-hours chart of the SOL\/USD pair. On the upside, an immediate resistance is near the $10.55 level and the trend line.<\/p>\n

The first major resistance is near the $11 level. It is close to the 23.6% Fib retracement level of the main drop from the $14.95 swing high to $9.66 low. The next major resistance is near the $12 zone, above which the price might rise towards the 100 simple moving average (4-hours).<\/p>\n

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

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

The 50% Fib retracement level of the main drop from the $14.95 swing high to $9.66 low is also near $12.30 to act as a strong resistance. Any more gains might send the price towards the $15 level.<\/p>\n

More Losses in SOL?<\/h2>\n

If SOL fails to clear the $10.55 resistance, it could continue to move down. An initial support on the downside is near the $9.65 level.<\/p>\n

The first major support is near the $9.20 level. The next major support is near the $8.20 level. If there is a downside break below the $8.20 support, the bears might even push the price below $7.50.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $9.65, $9.20 and $8.20.<\/p>\n

Major Resistance Levels \u2013 $10.55, $11 and $12.<\/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-14885","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\/14885","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=14885"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/14885\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=14885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=14885"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=14885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}