{"id":24576,"date":"2023-05-25T04:52:44","date_gmt":"2023-05-25T08:52:44","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=24576"},"modified":"2023-05-25T04:52:44","modified_gmt":"2023-05-25T08:52:44","slug":"sol-price-prediction-solana-turns-sell-on-rallies-as-it-breaks-20","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/25\/sol-price-prediction-solana-turns-sell-on-rallies-as-it-breaks-20\/","title":{"rendered":"SOL Price Prediction: Solana Turns Sell On Rallies As It Breaks $20"},"content":{"rendered":"

Solana gained bearish momentum and traded below $20 against the US Dollar. SOL price might now struggle to recover above the $20 and $21 resistance levels.<\/em><\/p>\n

SOL price is showing bearish signs below the $20.50 resistance against the US Dollar.
\nThe price is now trading below $19.80 and the 100 simple moving average (4 hours).
\nThere is a major bearish trend line forming with resistance near $19.90 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could recover but upsides might be limited above $20.<\/p>\n

Solana Price Extends Losses<\/h2>\n

This past week, Solana\u2019s price started a fresh decline from well above $21. SOL gained bearish momentum and was able to trade below the $20.50 support.<\/p>\n

The bears gained strength and pushed the price below the $20 support. The price is now showing bearish signs below $20, similar to Bitcoin<\/a> and Ethereum<\/a>. A low is formed near $18.70 and the price is now consolidating losses.<\/p>\n

SOL is now trading below $19.80 and the 100 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $19.90 on the 4-hour chart of the SOL\/USD pair. On the upside, immediate resistance is near the $19.80 level and the trend line.<\/p>\n

The next major resistance is near the $20 zone or the 50% Fib retracement level of the downward move from the $21.51 swing high to the $18.70 low. The main resistance is now forming near the $20.50 level and the 100 simple moving average (4 hours).<\/p>\n\n

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

The 61.8% Fib retracement level of the downward move from the $21.51 swing high to the $18.70 low is also near $20.50. A close above the $20.50 level could resend the price toward the $21.50 resistance zone. Any more gains might send the price toward the $22 level.<\/p>\n

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

If SOL fails to clear the $20.50 resistance, it could continue to move down. Initial support on the downside is near the $19.00 level.<\/p>\n

The first major support is near the $18.80 level, below which the bears might gain strength. In the stated case, Solana price may perhaps decline toward the $18.20 support. The next major support is near the $17.50 level.<\/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 below the 50 level.<\/p>\n

Major Support Levels \u2013 $18.80, and $18.20.<\/p>\n

Major Resistance Levels \u2013 $20.00, $20.50, and $21.50.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Solana gained bearish momentum and traded below $20 against the US Dollar. SOL price might now struggle to recover above the $20 and $21 resistance levels.<\/em><\/p>\n

SOL price is showing bearish signs below the $20.50 resistance against the US Dollar.
\nThe price is now trading below $19.80 and the 100 simple moving average (4 hours).
\nThere is a major bearish trend line forming with resistance near $19.90 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could recover but upsides might be limited above $20.<\/p>\n

Solana Price Extends Losses<\/h2>\n

This past week, Solana\u2019s price started a fresh decline from well above $21. SOL gained bearish momentum and was able to trade below the $20.50 support.<\/p>\n

The bears gained strength and pushed the price below the $20 support. The price is now showing bearish signs below $20, similar to Bitcoin<\/a> and Ethereum<\/a>. A low is formed near $18.70 and the price is now consolidating losses.<\/p>\n

SOL is now trading below $19.80 and the 100 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $19.90 on the 4-hour chart of the SOL\/USD pair. On the upside, immediate resistance is near the $19.80 level and the trend line.<\/p>\n

The next major resistance is near the $20 zone or the 50% Fib retracement level of the downward move from the $21.51 swing high to the $18.70 low. The main resistance is now forming near the $20.50 level and the 100 simple moving average (4 hours).<\/p>\n

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

The 61.8% Fib retracement level of the downward move from the $21.51 swing high to the $18.70 low is also near $20.50. A close above the $20.50 level could resend the price toward the $21.50 resistance zone. Any more gains might send the price toward the $22 level.<\/p>\n

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

If SOL fails to clear the $20.50 resistance, it could continue to move down. Initial support on the downside is near the $19.00 level.<\/p>\n

The first major support is near the $18.80 level, below which the bears might gain strength. In the stated case, Solana price may perhaps decline toward the $18.20 support. The next major support is near the $17.50 level.<\/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 below the 50 level.<\/p>\n

Major Support Levels \u2013 $18.80, and $18.20.<\/p>\n

Major Resistance Levels \u2013 $20.00, $20.50, and $21.50.<\/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-24576","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\/24576","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=24576"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24576\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24576"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}