{"id":207,"date":"2024-10-08T05:00:15","date_gmt":"2024-10-08T05:00:15","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/solana-sol-flashes-breakdown-signs-will-support-hold\/"},"modified":"2024-10-08T05:00:15","modified_gmt":"2024-10-08T05:00:15","slug":"solana-sol-flashes-breakdown-signs-will-support-hold","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/solana-sol-flashes-breakdown-signs-will-support-hold\/","title":{"rendered":"Solana (SOL) Flashes Breakdown Signs: Will Support Hold?"},"content":{"rendered":"<p><em>Solana trimmed gains and declined below the $146 support. SOL price is consolidating and might aim for a fresh increase unless there is a break below $140.<\/em><\/p>\n<ul>\n<li>SOL price started a fresh decline below the $146 zone against the US Dollar.<\/li>\n<li>The price is now trading near $145 and the 100-hourly simple moving average.<\/li>\n<li>There was a break below a key bullish trend line with support at $149 on the hourly chart of the SOL\/USD pair (data source from Kraken).<\/li>\n<li>The pair could start a fresh increase if it stays above the $140 support zone.<\/li>\n<\/ul>\n<h2>Solana Price Corrects Gains<\/h2>\n<p>Solana price climbed above the $145 and $146 levels before the bears appeared. SOL traded as high as $152 and recently started a downside correction like Bitcoin and Ethereum.<\/p>\n<p>The price declined below the $150 and $146 support levels. There was a break below a key bullish trend line with support at $149 on the hourly chart of the SOL\/USD pair. The pair slipped below the 23.6% Fib retracement level of the upward move from the $133 swing low to the $152 high.<\/p>\n<p>Solana is now trading near $145 and the 100-hourly simple moving average. The bulls seem to be active above the $142 support and the 50% Fib retracement level of the upward move from the $133 swing low to the $152 high.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-646851 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Solana_e59277.png?resize=1024%2C478\" alt=\"Solana Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>On the upside, the price is facing resistance near the $146.50 level. The next major resistance is near the $150 level. The main resistance could be $152. A successful close above the $150 and $152 resistance levels could set the pace for another steady increase. The next key resistance is near $160. Any more gains might send the price toward the $172 level.<\/p>\n<h2>More Downsides in SOL?<\/h2>\n<p>If SOL fails to rise above the $146.50 resistance, it could start another decline. Initial support on the downside is near the $142 level. The first major support is near the $140 level.<\/p>\n<p>A break below the $140 level might send the price toward the $132 zone. If there is a close below the $132 support, the price could decline toward the $120 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 bearish zone.<\/p>\n<p>Hourly Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $140 and $142.<\/p>\n<p>Major Resistance Levels \u2013 $150 and $152.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana trimmed gains and declined below the $146 support. SOL price is consolidating and might aim for a fresh increase unless there is a break below $140. SOL price started a fresh decline below the $146 zone against the US Dollar. The price is now trading near $145 and the 100-hourly simple moving average. There&hellip;<\/p>\n","protected":false},"author":1,"featured_media":208,"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-207","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\/207","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=207"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/207\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/208"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}