{"id":35701,"date":"2024-02-02T05:52:42","date_gmt":"2024-02-02T09:52:42","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=35701"},"modified":"2024-02-02T05:52:42","modified_gmt":"2024-02-02T09:52:42","slug":"sol-price-faces-big-move-can-bulls-send-solana-to-120","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/02\/sol-price-faces-big-move-can-bulls-send-solana-to-120\/","title":{"rendered":"SOL Price Faces Big Move \u2013 Can Bulls Send Solana To $120?"},"content":{"rendered":"

Solana is attempting a fresh increase from the $92 zone. SOL price could gain bullish momentum if it manages to clear the $100 and $104 resistance levels.<\/em><\/p>\n

SOL price started a fresh decline from the $106 resistance against the US Dollar.
\nThe price is now trading above $92 and the 100 simple moving average (4 hours).
\nThere was a break below a key bullish trend line with support at $100 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could start another increase if it surpasses the $100 and $104 levels.<\/p>\n

Solana Price Faces Key Test<\/h2>\n

Solana price started a fresh decline after it struggled to clear the $106 level like Bitcoin<\/a> at $43,800. There was a clear move below the $102 and $100 support levels.<\/p>\n

Besides, there was a break below a key bullish trend line with support at $100 on the 4-hour chart of the SOL\/USD pair. However, the bulls were active near the $92 level and the 100 simple moving average (4 hours)<\/a>. The price is now attempting a fresh increase above the $95 level.<\/p>\n

The price retested the $100 zone and the 50% Fib retracement level of the downward move from the $106.41 swing high to the $92.95 low. SOL is now trading above $95 and the 100 simple moving average (4 hours).<\/p>\n

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

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

Immediate resistance is near the $100 level. The next major resistance is near the $104 level or the 76.4% Fib retracement level of the downward move from the $106.41 swing high to the $92.95 low. A successful close above the $104 resistance could set the pace for another major increase. The next key resistance is near $112. Any more gains might send the price toward the $120 level.<\/p>\n

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

If SOL fails to rally above the $100 resistance, it could start another decline. Initial support on the downside is near the $92 level and the 100 simple moving average (4 hours).<\/p>\n

The first major support is near the $90 level, below which the price could test $85. If there is a close below the $85 support, the price could decline toward the $78 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 bullish 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 $92, and $92.<\/p>\n

Major Resistance Levels \u2013 $100, $104, and $112.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Solana is attempting a fresh increase from the $92 zone. SOL price could gain bullish momentum if it manages to clear the $100 and $104 resistance levels.<\/em><\/p>\n

SOL price started a fresh decline from the $106 resistance against the US Dollar.
\nThe price is now trading above $92 and the 100 simple moving average (4 hours).
\nThere was a break below a key bullish trend line with support at $100 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).
\nThe pair could start another increase if it surpasses the $100 and $104 levels.<\/p>\n

Solana Price Faces Key Test<\/h2>\n

Solana price started a fresh decline after it struggled to clear the $106 level like Bitcoin<\/a> at $43,800. There was a clear move below the $102 and $100 support levels.<\/p>\n

Besides, there was a break below a key bullish trend line with support at $100 on the 4-hour chart of the SOL\/USD pair. However, the bulls were active near the $92 level and the 100 simple moving average (4 hours)<\/a>. The price is now attempting a fresh increase above the $95 level.<\/p>\n

The price retested the $100 zone and the 50% Fib retracement level of the downward move from the $106.41 swing high to the $92.95 low. SOL is now trading above $95 and the 100 simple moving average (4 hours).<\/p>\n

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

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

Immediate resistance is near the $100 level. The next major resistance is near the $104 level or the 76.4% Fib retracement level of the downward move from the $106.41 swing high to the $92.95 low. A successful close above the $104 resistance could set the pace for another major increase. The next key resistance is near $112. Any more gains might send the price toward the $120 level.<\/p>\n

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

If SOL fails to rally above the $100 resistance, it could start another decline. Initial support on the downside is near the $92 level and the 100 simple moving average (4 hours).<\/p>\n

The first major support is near the $90 level, below which the price could test $85. If there is a close below the $85 support, the price could decline toward the $78 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 bullish 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 $92, and $92.<\/p>\n

Major Resistance Levels \u2013 $100, $104, and $112.<\/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-35701","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\/35701","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=35701"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35701\/revisions"}],"predecessor-version":[{"id":35710,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35701\/revisions\/35710"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35701"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}