{"id":29417,"date":"2023-09-11T05:53:37","date_gmt":"2023-09-11T09:53:37","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=29417"},"modified":"2023-09-11T05:53:37","modified_gmt":"2023-09-11T09:53:37","slug":"sol-price-prediction-solana-takes-hit-and-could-dive-to-15","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/11\/sol-price-prediction-solana-takes-hit-and-could-dive-to-15\/","title":{"rendered":"SOL Price Prediction: Solana Takes Hit and Could Dive To $15"},"content":{"rendered":"

Solana is gaining bearish momentum below $20 against the US Dollar. SOL price is struggling and could drop further toward $16.50 or even $15.00.<\/em><\/p>\n

SOL price is showing bearish signs below $20.00 and $20.50 against the US Dollar.
\nThe price is now trading below $20 and the 100 simple moving average (4 hours).
\nThere is a major bearish trend line forming with resistance near $19.20 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could continue to down if there is a close below the $17.80 support.<\/p>\n

Solana Price Drops Further<\/h2>\n

In the past few days, Solana\u2019s price made a couple of attempts to clear the $22.00 resistance. However, SOL failed to gain strength for a move above the $22.00 level.<\/p>\n

As a result, there was a fresh bearish reaction below the $21.20 support, like Bitcoin<\/a> and Ethereum<\/a>. More importantly, FTX\u2019s news of a possible selling of SOL is also putting a lot of pressure on the bulls. The price gained bearish momentum and traded below the $20.00 support.<\/p>\n

Finally, it found support near $17.80. A low is formed near $17.78 and the price is now consolidating losses. SOL is now trading below $20 and the 100 simple moving average (4 hours).<\/p>\n

Besides, there is a major bearish trend line forming with resistance near $19.20 on the 4-hour chart of the SOL\/USD pair. On the upside, immediate resistance is near the $18.50 level or the 23.6% Fib retracement level of the downward move from the $20.59 swing high to the $17.78 low.<\/p>\n\n

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

The first major resistance is near the $19.20 level or the trend line. The next key resistance is near the 76.4% Fib retracement level of the downward move from the $20.59 swing high to the $17.78 low at $20.00. A clear move above the $20.00 resistance might send the price toward the $21.20 resistance. 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 $19.20 resistance, it could continue to move down. Initial support on the downside is near the $17.80 level.<\/p>\n

The first major support is near the $17.20 level. If there is a close below the $17.20 support, the price could decline toward the $16.50 support. In the stated case, there is a risk of more downsides toward the $15.00 support in the near term.<\/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 $17.80, and $17.20.<\/p>\n

Major Resistance Levels \u2013 $19.20, $20.00, and $22.00.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Solana is gaining bearish momentum below $20 against the US Dollar. SOL price is struggling and could drop further toward $16.50 or even $15.00.<\/em><\/p>\n

SOL price is showing bearish signs below $20.00 and $20.50 against the US Dollar.
\nThe price is now trading below $20 and the 100 simple moving average (4 hours).
\nThere is a major bearish trend line forming with resistance near $19.20 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could continue to down if there is a close below the $17.80 support.<\/p>\n

Solana Price Drops Further<\/h2>\n

In the past few days, Solana\u2019s price made a couple of attempts to clear the $22.00 resistance. However, SOL failed to gain strength for a move above the $22.00 level.<\/p>\n

As a result, there was a fresh bearish reaction below the $21.20 support, like Bitcoin<\/a> and Ethereum<\/a>. More importantly, FTX\u2019s news of a possible selling of SOL is also putting a lot of pressure on the bulls. The price gained bearish momentum and traded below the $20.00 support.<\/p>\n

Finally, it found support near $17.80. A low is formed near $17.78 and the price is now consolidating losses. SOL is now trading below $20 and the 100 simple moving average (4 hours).<\/p>\n

Besides, there is a major bearish trend line forming with resistance near $19.20 on the 4-hour chart of the SOL\/USD pair. On the upside, immediate resistance is near the $18.50 level or the 23.6% Fib retracement level of the downward move from the $20.59 swing high to the $17.78 low.<\/p>\n

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

The first major resistance is near the $19.20 level or the trend line. The next key resistance is near the 76.4% Fib retracement level of the downward move from the $20.59 swing high to the $17.78 low at $20.00. A clear move above the $20.00 resistance might send the price toward the $21.20 resistance. 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 $19.20 resistance, it could continue to move down. Initial support on the downside is near the $17.80 level.<\/p>\n

The first major support is near the $17.20 level. If there is a close below the $17.20 support, the price could decline toward the $16.50 support. In the stated case, there is a risk of more downsides toward the $15.00 support in the near term.<\/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 $17.80, and $17.20.<\/p>\n

Major Resistance Levels \u2013 $19.20, $20.00, and $22.00.<\/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-29417","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\/29417","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=29417"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29417\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29417"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}