{"id":1977,"date":"2024-12-25T05:11:05","date_gmt":"2024-12-25T05:11:05","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/solana-sol-gearing-up-is-a-new-surge-on-the-horizon\/"},"modified":"2024-12-25T05:11:05","modified_gmt":"2024-12-25T05:11:05","slug":"solana-sol-gearing-up-is-a-new-surge-on-the-horizon","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/solana-sol-gearing-up-is-a-new-surge-on-the-horizon\/","title":{"rendered":"Solana (SOL) Gearing Up: Is a New Surge on the Horizon?"},"content":{"rendered":"<p><em>Solana remained stable above the $175 level. SOL price is now recovering losses and facing hurdles near the $200 and $205 levels.<\/em><\/p>\n<ul>\n<li>SOL price started a fresh increase after it tested the $175 zone against the US Dollar.<\/li>\n<li>The price is now trading above $190 and the 100-hourly simple moving average.<\/li>\n<li>There was a break above a connecting bearish trend line with resistance at $185 on the hourly chart of the SOL\/USD pair (data source from Kraken).<\/li>\n<li>The pair could start a fresh increase if the bulls clear the $205 zone.<\/li>\n<\/ul>\n<h2>Solana Price Eyes Upside Break<\/h2>\n<p>Solana price formed a support base and started a fresh increase from the $185 level like Bitcoin and Ethereum. There was a decent increase above the $190 and $192 resistance levels.<\/p>\n<p>There was a break above a connecting bearish trend line with resistance at $190 on the hourly chart of the SOL\/USD pair. The pair climbed above $195 and tested the 50% Fib retracement level of the downward move from the $228 swing high to the $175 low.<\/p>\n<p>However, the price is now facing many hurdles near $200. Solana is now trading above $190 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $202 level.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"size-full wp-image-667009\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/Solana_b9f30f.png?resize=1024%2C478\" alt=\"Solana Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>The next major resistance is near the $208 level or the 61.8% Fib retracement level of the downward move from the $228 swing high to the $175 low. The main resistance could be $215. A successful close above the $220 resistance level could set the pace for another steady increase. The next key resistance is $235. Any more gains might send the price toward the $250 level.<\/p>\n<h2>Another Decline in SOL?<\/h2>\n<p>If SOL fails to rise above the $208 resistance, it could start another decline. Initial support on the downside is near the $195 level. The first major support is near the $188 level.<\/p>\n<p>A break below the $180 level might send the price toward the $175 zone. If there is a close below the $175 support, the price could decline toward the $162 support in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for SOL\/USD is gaining pace in the bullish zone.<\/p>\n<p>Hourly Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $195 and $188.<\/p>\n<p>Major Resistance Levels \u2013 $208 and $215.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana remained stable above the $175 level. SOL price is now recovering losses and facing hurdles near the $200 and $205 levels. SOL price started a fresh increase after it tested the $175 zone against the US Dollar. The price is now trading above $190 and the 100-hourly simple moving average. There was a break&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[62],"tags":[174,121,251,177,129,76],"class_list":["post-1977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technical-analysis","tag-sol","tag-solana","tag-solbtc","tag-solusd","tag-solusdt","tag-technical-analysis"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=1977"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1977\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/1978"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=1977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=1977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=1977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}