Solana has started a fresh decrease below USD 250 support. The SOL price is consolidated and may encounter resistance near levels 235 and 242 USD.
- The SOL price began again a decrease below USD 250 and USD 240 compared to the American dollar.
- The price is currently listed below USD 240, and a 100-hour straight moving average.
- There is a key line of the Bear Trend with resistance of USD 235 on the SOL/USD hour chart (data source from Kraken).
- The couple can start a novel growth if the bulls have cleaned the USD 242 zone.
Solan’s price will drop below USD 250
Solana Price fought to pristine the resistance of $ 260 and began a fresh drop, such as Bitcoin and Ethereum. Sol has fallen below the support levels of 250 and 242 USD.
He even dived below USD 230. The last lowest levels were created in the amount of USD 225, and the price consolidates losses. It increased by several points above USD 230. He cleaned the level of extracting 23.6% down from a swing worth $ 244 to the lowest level of USD 225.
Solana now trads below 240 USD and 100-hour uncomplicated movable average. On the other hand, the price is in the face of resistance near the level of USD 235 or 50% of the level of withdrawal of FIB down movement from a height of 244 USD to the lowest level of USD 225.
There is also a key line of the bear trend, which is formed with resistance of USD 235 on the Sol/USD hour chart. Another high resistance is close to USD 242. The main resistance can be USD 250. A successful closure above the resistance zone of USD 250 can set the pace for another constant growth. The next key resistance is 260 USD. Any profits can send a price to USD 275.
Another decrease in SOL?
If the SOL does not raise above the resistance of USD 235, it may start another decrease. Initial support in the minus is located near the USD 225 zone. The first gigantic support is located near the USD 222.
A break below USD 222 may send a price to USD 212. If below USD 212 is similar, the price may drop in the direction of USD 200 in the near future.
Technical indicators
MacD – MacD for SOL/USD loses the pace in the stubborn zone.
RSI hours (relative strength indicator) – RSI for SOL/USD is below level 50.
Main support levels – USD 225 and USD 222.
Main resistance levels – USD 235 and USD 242.
