{"id":7872,"date":"2025-10-30T05:11:04","date_gmt":"2025-10-30T05:11:04","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/solana-sol-drops-toward-support-bulls-eye-potential-recovery-base\/"},"modified":"2025-10-30T05:11:04","modified_gmt":"2025-10-30T05:11:04","slug":"solana-sol-drops-toward-support-bulls-eye-potential-recovery-base","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/solana-sol-drops-toward-support-bulls-eye-potential-recovery-base\/","title":{"rendered":"Solana (SOL) Drops Toward Support \u2014 Bulls Eye Potential Recovery Base"},"content":{"rendered":"<p><em>Solana failed to stay above $198 and corrected gains. SOL price is now trading below $195 and might find bids near the $188 zone.<\/em><\/p>\n<ul>\n<li>SOL price started a downside correction below $198 against the US Dollar.<\/li>\n<li>The price is now trading below $195 and the 100-hourly simple moving average.<\/li>\n<li>There is a declining channel forming with resistance at $200 on the hourly chart of the SOL\/USD pair (data source from Kraken).<\/li>\n<li>The pair could extend losses if it dips below the $188 zone.<\/li>\n<\/ul>\n<h2>Solana Price Approaches Support<\/h2>\n<p>Solana price failed to surpass $205 and started a downside correction, beating Bitcoin and Ethereum. SOL dipped below $200 and $198 to enter a short-term bearish zone.<\/p>\n<p>There was a move below the 23.6% Fib retracement level of the upward wave from the $177 swing low to the $205 high. However, the bulls are active near the $192 support. Besides, there is a declining channel forming with resistance at $200 on the hourly chart of the SOL\/USD pair.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"size-full wp-image-846219\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/10\/Solana_fb05b9.png?resize=1024%2C493\" alt=\"Solana Price \" width=\"1024\" height=\"493\" loading=\"lazy\" \/><\/p>\n<p>Solana is now trading below $195 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $198 level. The next major resistance is near the $200 level. The main resistance could be $205. A successful close above the $205 resistance zone could set the pace for another steady increase. The next key resistance is $220. Any more gains might send the price toward the $225 level.<\/p>\n<h2>Downside Break In SOL?<\/h2>\n<p>If SOL fails to rise above the $198 resistance, it could start another decline. Initial support on the downside is near the $192 zone and the 50% Fib retracement level of the upward wave from the $177 swing low to the $205 high. The first major support is near the $188 level.<\/p>\n<p>A break below the $188 level might send the price toward the $184 support zone. If there is a close below the $184 support, the price could decline toward the $177 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 $192 and $188.<\/p>\n<p>Major Resistance Levels \u2013 $198 and $200.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana failed to stay above $198 and corrected gains. SOL price is now trading below $195 and might find bids near the $188 zone. SOL price started a downside correction below $198 against the US Dollar. The price is now trading below $195 and the 100-hourly simple moving average. There is a declining channel forming&hellip;<\/p>\n","protected":false},"author":1,"featured_media":7873,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[62],"tags":[174,121,251,177,129,76],"class_list":["post-7872","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\/7872","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=7872"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/7872\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/7873"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=7872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=7872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=7872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}