{"id":2744,"date":"2025-02-05T05:11:04","date_gmt":"2025-02-05T05:11:04","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/solana-sol-at-a-crossroads-can-it-break-through-and-turn-bullish\/"},"modified":"2025-02-05T05:11:04","modified_gmt":"2025-02-05T05:11:04","slug":"solana-sol-at-a-crossroads-can-it-break-through-and-turn-bullish","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/solana-sol-at-a-crossroads-can-it-break-through-and-turn-bullish\/","title":{"rendered":"Solana (SOL) at a Crossroads: Can It Break Through and Turn Bullish?"},"content":{"rendered":"<p><em>Solana started a fresh decline from the $220 zone. SOL price is consolidating and might face resistance near the $215 and $220 levels.<\/em><\/p>\n<ul>\n<li>SOL price started a fresh decline below the $215 and $212 levels against the US Dollar.<\/li>\n<li>The price is now trading below $212 and the 100-hourly simple moving average.<\/li>\n<li>There is a short-term declining channel or a bullish flag forming with resistance at $213 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 $220 zone.<\/li>\n<\/ul>\n<h2>Solana Price Faces Resistance<\/h2>\n<p>Solana price struggled to clear the $250 resistance and started a fresh decline, like Bitcoin and Ethereum. SOL declined below the $220 and $200 support levels.<\/p>\n<p>It even dived below the $180 level. The recent low was formed at $175 before the price climbed and tested the $220 resistance. A high was formed at $220 and the price is now consolidating. There was a drop below the 23.6% Fib retracement level of the upward move from the $175 swing low to the $220 high.<\/p>\n<p>Solana is now trading below $220 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $212 level. There is also a short-term declining channel or a bullish flag forming with resistance at $213 on the hourly chart of the SOL\/USD pair.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"size-full wp-image-690746\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/02\/Solana.png?resize=1024%2C478\" alt=\"Solana Price \" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>The next major resistance is near the $215 level. The main resistance could be $220. A successful close above the $220 resistance zone could set the pace for another steady increase. The next key resistance is $232. 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 $215 resistance, it could start another decline. Initial support on the downside is near the $202 zone. The first major support is near the $198 level or the 50% Fib retracement level of the upward move from the $175 swing low to the $220 high.<\/p>\n<p>A break below the $198 level might send the price toward the $192 zone. If there is a close below the $192 support, the price could decline toward the $175 support in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD \u2013 The MACD for SOL\/USD is losing pace in the bullish 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 $202 and $198.<\/p>\n<p>Major Resistance Levels \u2013 $215 and $220.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana started a fresh decline from the $220 zone. SOL price is consolidating and might face resistance near the $215 and $220 levels. SOL price started a fresh decline below the $215 and $212 levels against the US Dollar. The price is now trading below $212 and the 100-hourly simple moving average. There is a&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2745,"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-2744","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\/2744","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=2744"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/2744\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/2745"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=2744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=2744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=2744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}