{"id":22722,"date":"2023-04-27T04:53:17","date_gmt":"2023-04-27T08:53:17","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=22722"},"modified":"2023-04-27T04:53:17","modified_gmt":"2023-04-27T08:53:17","slug":"sol-price-prediction-solana-topside-bias-vulnerable-unless-it-surges-past-23","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/04\/27\/sol-price-prediction-solana-topside-bias-vulnerable-unless-it-surges-past-23\/","title":{"rendered":"SOL Price Prediction: Solana Topside Bias Vulnerable Unless It Surges Past $23"},"content":{"rendered":"

Solana is struggling below the $23 resistance against the US Dollar. SOL price could decline again if there is a clear move below the $20 support.<\/em><\/p>\n

SOL price is showing bearish signs below the $23 barrier against the US Dollar.
\nThe price is now trading below $22.50 and the 100 simple moving average (4 hours).
\nThere is a key bearish trend line forming with resistance near $22.30 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could start a decent increase if it clears the trend line and then $23.<\/p>\n

Solana Price Faces Resistance<\/h2>\n

This past week, Solana\u2019s price saw a steady decline from well above the $24 level, similar to Bitcoin<\/a> and Ethereum<\/a>. SOL declined below the $23 and $22 levels to move into a bearish zone.<\/p>\n

It even spiked below the $20.50 support. A low is formed near $20.39 and the price is now consolidating losses. It is trading below $22.50 and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $22.30 on the 4-hour chart of the SOL\/USD pair.<\/p>\n

On the upside, immediate resistance is near the $21.75 level. It is close to the 23.6% Fib retracement level of the downward move from the $26.03 swing high to the $20.39 low.<\/p>\n

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

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

The next major resistance is near the trend line, above which the price could gain bullish momentum and rise toward the $23 resistance or the 50% Fib retracement level of the downward move from the $26.03 swing high to the $20.39 low. Any more gains might send the price toward the $25 level.<\/p>\n

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

If SOL fails to clear the $23 resistance, it could start a fresh decline. Initial support on the downside is near the $21.00 level.<\/p>\n

The first major support is near the $20 level, below which the bears might gain strength. In the stated case, the price may perhaps decline toward the $18.80 support in the coming days. The next major support is near the $18 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $21.00, $20.00, and $18.80.<\/p>\n

Major Resistance Levels \u2013 $22.30, $23, and $25.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Solana is struggling below the $23 resistance against the US Dollar. SOL price could decline again if there is a clear move below the $20 support.<\/em><\/p>\n

SOL price is showing bearish signs below the $23 barrier against the US Dollar.
\nThe price is now trading below $22.50 and the 100 simple moving average (4 hours).
\nThere is a key bearish trend line forming with resistance near $22.30 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could start a decent increase if it clears the trend line and then $23.<\/p>\n

Solana Price Faces Resistance<\/h2>\n

This past week, Solana\u2019s price saw a steady decline from well above the $24 level, similar to Bitcoin<\/a> and Ethereum<\/a>. SOL declined below the $23 and $22 levels to move into a bearish zone.<\/p>\n

It even spiked below the $20.50 support. A low is formed near $20.39 and the price is now consolidating losses. It is trading below $22.50 and the 100 simple moving average (4 hours). There is also a key bearish trend line forming with resistance near $22.30 on the 4-hour chart of the SOL\/USD pair.<\/p>\n

On the upside, immediate resistance is near the $21.75 level. It is close to the 23.6% Fib retracement level of the downward move from the $26.03 swing high to the $20.39 low.<\/p>\n

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

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

The next major resistance is near the trend line, above which the price could gain bullish momentum and rise toward the $23 resistance or the 50% Fib retracement level of the downward move from the $26.03 swing high to the $20.39 low. Any more gains might send the price toward the $25 level.<\/p>\n

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

If SOL fails to clear the $23 resistance, it could start a fresh decline. Initial support on the downside is near the $21.00 level.<\/p>\n

The first major support is near the $20 level, below which the bears might gain strength. In the stated case, the price may perhaps decline toward the $18.80 support in the coming days. The next major support is near the $18 level.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Levels \u2013 $21.00, $20.00, and $18.80.<\/p>\n

Major Resistance Levels \u2013 $22.30, $23, and $25.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-22722","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\/22722","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=22722"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/22722\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=22722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=22722"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=22722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}