Crypto Currency Tracker logo Crypto Currency Tracker logo
NewsBTC 2023-06-15 04:28:15

SOL Price Prediction: Here’s Why Solana’s Recovery Won’t Be Easy

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. SOL price is showing bearish signs below the $20 resistance against the US Dollar. The price is now trading below $15 and the 100 simple moving average (4 hours). There 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). The pair could recover but upsides might be limited above $17.50. Solana Price Drops 20% In the past few days, Solana’s price started a fresh decline from well above $20. SOL gained bearish momentum and was able to trade below the $17.50 support. The bears gained strength and pushed the price below the $15 support. The price is now showing bearish signs below $15, similar to Bitcoin and Ethereum. A low is formed near $13.00 and the price is now consolidating losses. 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. 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. Source: SOLUSD on TradingView.com 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. More Losses in SOL? 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. 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. Technical Indicators 4-Hours MACD – The MACD for SOL/USD is losing pace in the bearish zone. 4-Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $14.30, and $13.00. Major Resistance Levels – $15.25, $17.50, and $18.80.

Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen