{"id":25457,"date":"2023-06-15T04:53:20","date_gmt":"2023-06-15T08:53:20","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=25457"},"modified":"2023-06-15T04:53:20","modified_gmt":"2023-06-15T08:53:20","slug":"sol-price-prediction-heres-why-solanas-recovery-wont-be-easy","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/15\/sol-price-prediction-heres-why-solanas-recovery-wont-be-easy\/","title":{"rendered":"SOL Price Prediction: Here\u2019s Why Solana\u2019s Recovery Won\u2019t Be Easy"},"content":{"rendered":"

Solana gained bearish momentum and traded below $15 against the US Dollar. SOL price might now struggle to recover above the $15 and $17.50 resistance levels.<\/em><\/p>\n

SOL price is showing bearish signs below the $20 resistance against the US Dollar.
\nThe price is now trading below $15 and the 100 simple moving average (4 hours).
\nThere is a major bearish trend line forming with resistance near $15.25 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could recover but upsides might be limited above $17.50.<\/p>\n

Solana Price Drops 20%<\/h2>\n

In the past few days, Solana\u2019s price started a fresh decline from well above $20. SOL gained bearish momentum and was able to trade below the $17.50 support.<\/p>\n

The bears gained strength and pushed the price below the $15 support. The price is now showing bearish signs below $15, similar to Bitcoin<\/a> and Ethereum<\/a>. A low is formed near $13.00 and the price is now consolidating losses.<\/p>\n

SOL is now trading below $15 and the 100 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $15.25 on the 4-hour chart of the SOL\/USD pair. On the upside, immediate resistance is near the $15 level and the trend line.<\/p>\n

The trend line is close to the 23.6% Fib retracement level of the downward move from the $22.32 swing high to the $13.00 low. The next major resistance is near the $16 zone.<\/p>\n\n

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

The main resistance is now forming near the $17.50 level or the 50% Fib retracement level of the downward move from the $22.32 swing high to the $13.00 low. A close above the $17.50 level could resend the price toward the $18.80 resistance zone. Any more gains might send the price toward the $20 level.<\/p>\n

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

If SOL fails to clear the $17.50 resistance, it could continue to move down. Initial support on the downside is near the $14.30 level.<\/p>\n

The first major support is near the $13.00 level, below which the bears might gain strength. In the stated case, the price may perhaps decline toward the $12.00 support. The next major support is near the $10.50 level.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for SOL\/USD is losing 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 $14.30, and $13.00.<\/p>\n

Major Resistance Levels \u2013 $15.25, $17.50, and $18.80.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Solana gained bearish momentum and traded below $15 against the US Dollar. SOL price might now struggle to recover above the $15 and $17.50 resistance levels.<\/em><\/p>\n

SOL price is showing bearish signs below the $20 resistance against the US Dollar.
\nThe price is now trading below $15 and the 100 simple moving average (4 hours).
\nThere is a major bearish trend line forming with resistance near $15.25 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could recover but upsides might be limited above $17.50.<\/p>\n

Solana Price Drops 20%<\/h2>\n

In the past few days, Solana\u2019s price started a fresh decline from well above $20. SOL gained bearish momentum and was able to trade below the $17.50 support.<\/p>\n

The bears gained strength and pushed the price below the $15 support. The price is now showing bearish signs below $15, similar to Bitcoin<\/a> and Ethereum<\/a>. A low is formed near $13.00 and the price is now consolidating losses.<\/p>\n

SOL is now trading below $15 and the 100 simple moving average (4 hours). There is also a major bearish trend line forming with resistance near $15.25 on the 4-hour chart of the SOL\/USD pair. On the upside, immediate resistance is near the $15 level and the trend line.<\/p>\n

The trend line is close to the 23.6% Fib retracement level of the downward move from the $22.32 swing high to the $13.00 low. The next major resistance is near the $16 zone.<\/p>\n

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

The main resistance is now forming near the $17.50 level or the 50% Fib retracement level of the downward move from the $22.32 swing high to the $13.00 low. A close above the $17.50 level could resend the price toward the $18.80 resistance zone. Any more gains might send the price toward the $20 level.<\/p>\n

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

If SOL fails to clear the $17.50 resistance, it could continue to move down. Initial support on the downside is near the $14.30 level.<\/p>\n

The first major support is near the $13.00 level, below which the bears might gain strength. In the stated case, the price may perhaps decline toward the $12.00 support. The next major support is near the $10.50 level.<\/p>\n

Technical Indicators<\/p>\n

4-Hours MACD \u2013 The MACD for SOL\/USD is losing 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 $14.30, and $13.00.<\/p>\n

Major Resistance Levels \u2013 $15.25, $17.50, and $18.80.<\/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-25457","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\/25457","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=25457"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25457\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=25457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=25457"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=25457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}