{"id":31165,"date":"2023-10-19T05:52:38","date_gmt":"2023-10-19T09:52:38","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=31165"},"modified":"2023-10-19T05:52:38","modified_gmt":"2023-10-19T09:52:38","slug":"sol-price-prediction-why-solana-could-surge-25-above-this-key-hurdle","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/19\/sol-price-prediction-why-solana-could-surge-25-above-this-key-hurdle\/","title":{"rendered":"SOL Price Prediction: Why Solana Could Surge 25% Above This Key Hurdle"},"content":{"rendered":"

Solana is correcting gains from the $25 resistance against the US Dollar. SOL price remains supported and might aim for a fresh rally toward $30.<\/em><\/p>\n

SOL price started a downside correction after it failed to clear the $25 resistance against the US Dollar.
\nThe price is now trading above $23.00 and the 100 simple moving average (4 hours).
\nThere is a key contracting triangle forming with resistance near $23.90 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could start a strong rally if it clears the $24 and $25 resistance levels.<\/p>\n

Solana Price Remains In Uptrend<\/h2>\n

After a steady increase, Solana struggled to clear the $25 resistance zone. SOL formed a high at $24.82 and recently started a downside correction, like Bitcoin<\/a>.<\/p>\n

There was a move below the $24.20 and $22.00 levels. The bears pushed the price below the 23.6% Fib retracement level of the upward move from the $20.94 swing low to the $24.82 high. There is also a key contracting triangle forming with resistance near $23.90 on the 4-hour chart of the SOL\/USD pair.<\/p>\n

SOL is now trading above $23.00 and the 100 simple moving average (4 hours)<\/a>. It is now showing positive signs and remains supported above the $22.00 pivot level.<\/p>\n

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

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

On the upside, immediate resistance is near the $24.00 level and the triangle region. The first major resistance is near the $24.00 level. The main resistance is still near the $25.00 zone. A successful close above the $25.00 resistance could set the pace for a larger increase. The next key resistance is near $28.50. Any more gains might send the price toward the $30.00 level.<\/p>\n

Are Dips Limited in SOL?<\/h2>\n

If SOL fails to recover above the $24.00 resistance, it could continue to move down. Initial support on the downside is near the $22.85 level or the 50% Fib retracement level of the upward move from the $20.94 swing low to the $24.82 high.<\/p>\n

The first major support is near the $22.40 level. If there is a close below the $22.40 support, the price could decline toward the $21.80 support. In the stated case, there is a risk of more downsides toward the $20.50 support in the near term.<\/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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $22.85, and $22.40.<\/p>\n

Major Resistance Levels \u2013 $23.90, $24.00, and $25.00.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Solana is correcting gains from the $25 resistance against the US Dollar. SOL price remains supported and might aim for a fresh rally toward $30.<\/em><\/p>\n

SOL price started a downside correction after it failed to clear the $25 resistance against the US Dollar.
\nThe price is now trading above $23.00 and the 100 simple moving average (4 hours).
\nThere is a key contracting triangle forming with resistance near $23.90 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could start a strong rally if it clears the $24 and $25 resistance levels.<\/p>\n

Solana Price Remains In Uptrend<\/h2>\n

After a steady increase, Solana struggled to clear the $25 resistance zone. SOL formed a high at $24.82 and recently started a downside correction, like Bitcoin<\/a>.<\/p>\n

There was a move below the $24.20 and $22.00 levels. The bears pushed the price below the 23.6% Fib retracement level of the upward move from the $20.94 swing low to the $24.82 high. There is also a key contracting triangle forming with resistance near $23.90 on the 4-hour chart of the SOL\/USD pair.<\/p>\n

SOL is now trading above $23.00 and the 100 simple moving average (4 hours)<\/a>. It is now showing positive signs and remains supported above the $22.00 pivot level.<\/p>\n

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

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

On the upside, immediate resistance is near the $24.00 level and the triangle region. The first major resistance is near the $24.00 level. The main resistance is still near the $25.00 zone. A successful close above the $25.00 resistance could set the pace for a larger increase. The next key resistance is near $28.50. Any more gains might send the price toward the $30.00 level.<\/p>\n

Are Dips Limited in SOL?<\/h2>\n

If SOL fails to recover above the $24.00 resistance, it could continue to move down. Initial support on the downside is near the $22.85 level or the 50% Fib retracement level of the upward move from the $20.94 swing low to the $24.82 high.<\/p>\n

The first major support is near the $22.40 level. If there is a close below the $22.40 support, the price could decline toward the $21.80 support. In the stated case, there is a risk of more downsides toward the $20.50 support in the near term.<\/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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $22.85, and $22.40.<\/p>\n

Major Resistance Levels \u2013 $23.90, $24.00, and $25.00.<\/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-31165","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\/31165","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=31165"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31165\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31165"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}