{"id":148873,"date":"2023-09-03T05:53:37","date_gmt":"2023-09-03T00:23:37","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=148873"},"modified":"2023-09-03T05:53:37","modified_gmt":"2023-09-03T00:23:37","slug":"solana-retests-key-support-is-a-price-reversal-likely-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/solana-retests-key-support-is-a-price-reversal-likely-crypto-news\/","title":{"rendered":"Solana retests key support: Is a price reversal likely? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"single-post-author-top\">\n<p>\t\t\t\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" data-del=\"avatar\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Benja-80x80.jpeg\" class=\"avatar pp-user-avatar avatar-48 photo \" height=\"48\" width=\"48\" \/><\/p>\n<p>Journalist<\/p>\n<\/p><\/div>\n<p>\t\t\t\t\t\t\t\t<span class=\"mvp-post-date updated\">Posted: September 3, 2023<br \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span><\/p>\n<\/p><\/div>\n<div>\n<p><i><span style=\"font-weight: 400\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/span><\/i><\/p>\n<ul>\n<li style=\"font-weight: 400\"><em><span style=\"font-weight: 400\">SOL retraced to a crucial bullish order block near $18.<\/span><\/em><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\"><em>MobChart showed massive buy limit orders at $18 and $19.<\/em>\u00a0<\/span><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/SOL\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Solana [SOL]<\/span><\/a><span style=\"font-weight: 400\"> breached the $20 psychological level, but the drop could ease as buying interest surged near the $18 and $19 levels. Nevertheless, <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/BTC\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">Bitcoin [BTC]<\/span><\/a><span style=\"font-weight: 400\"> was stuck in the range-low at $25k at press time and could complicate a solid upswing for SOL.\u00a0\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">How much are <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-sol-to-usd\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">1,10,100 SOLs worth today<\/span><\/a><span style=\"font-weight: 400\">?\u00a0<\/span><\/p>\n<hr \/>\n<h4>Can bulls defend the $18-$19 area?<\/h4>\n<div id=\"attachment_340466\" style=\"width: 1960px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/SOLUSDT_2023-09-02_10-37-54.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-340466\" class=\"size-full wp-image-340466\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"Solana price analysis\" width=\"1950\" height=\"1109\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/SOLUSDT_2023-09-02_10-37-54.png 1950w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/SOLUSDT_2023-09-02_10-37-54-300x171.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/SOLUSDT_2023-09-02_10-37-54-1024x582.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/SOLUSDT_2023-09-02_10-37-54-768x437.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/SOLUSDT_2023-09-02_10-37-54-1536x874.png 1536w\" data-lazy-sizes=\"(max-width: 1950px) 100vw, 1950px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/SOLUSDT_2023-09-02_10-37-54.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-340466\" class=\"size-full wp-image-340466\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/SOLUSDT_2023-09-02_10-37-54.png\" alt=\"Solana price analysis\" width=\"1950\" height=\"1109\" \/><\/a><\/p>\n<p id=\"caption-attachment-340466\" class=\"wp-caption-text\">Source: SOL\/USDT on TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">The $20 level was crucial support between April, May and at the end of August. But it was breached in September. However, the plunge has hit a daily bullish order block (OB) of $18.3 \u2013 $19.5 (white).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">If the demand spikes at the above bullish OB, SOL could target $22 or the 50% Fib level ($22.5) in the next few days.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Conversely, sellers could push it lower to 23.6% Fib level ($17.4) or the next daily bullish OB of $15.6 \u2013 $16.65 (cyan).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, the Relative Strength Index (RSI) oscillated below 50 in the past few days, showing muted but equal buying and selling pressure.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Similarly, the Chaikin Money Flow (CMF) exhibited swings around the zero mark, reinforcing capital inflows wavered over the same period.\u00a0<\/span><\/p>\n<h4>Massive buying interest at $18-$19<\/h4>\n<div id=\"attachment_340467\" style=\"width: 1230px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/SOL-Mobchart.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-340467\" class=\"size-full wp-image-340467\" src=\"image\/svg+xml,%3Csvg%20xmlns=\" alt=\"SOL price analysis\" width=\"1220\" height=\"542\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/SOL-Mobchart.png 1220w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/SOL-Mobchart-300x133.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/SOL-Mobchart-1024x455.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/SOL-Mobchart-768x341.png 768w\" data-lazy-sizes=\"(max-width: 1220px) 100vw, 1220px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/SOL-Mobchart.png\" \/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-340467\" class=\"size-full wp-image-340467\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/09\/SOL-Mobchart.png\" alt=\"SOL price analysis\" width=\"1220\" height=\"542\" \/><\/a><\/p>\n<p id=\"caption-attachment-340467\" class=\"wp-caption-text\">Source: MobChart<\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">On <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/mobchart.com\/x\/r\/42413354c25dc450\/\" data-wpel-link=\"external\"><span style=\"font-weight: 400\">Mobchart<\/span><\/a><span style=\"font-weight: 400\">, the real-time order tracking platform, there was significant buying interest at $18 and $19. Large buy limit orders were placed at these levels on the Binance Exchange, as shown by the green lines. So, the price could bounce from these levels.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center\"><span style=\"font-weight: 400\">Is your portfolio green? Check out the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/calculator\/solana-profit-calculator\" data-wpel-link=\"internal\"><span style=\"font-weight: 400\">SOL Profit Calculator<\/span><\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400\">On the sell side, large sell limit orders were placed at the $22 level on the 4-hour timeframe. The inference from above is that a price reversal could occur when SOL edges closer to $22.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">So, if BTC defends the range-low, SOL could aim at $22 or the 50% Fib level ($22.5). But bulls must clear the $20.2 hurdle (38.2% Fib level) to push forward in such an upswing scenario. <\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Journalist Posted: September 3, 2023 Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion. SOL retraced to a crucial bullish order block near $18. MobChart showed massive buy limit orders at $18 and $19.\u00a0 Solana [SOL] breached the $20 psychological level, but the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":148874,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-148873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/148873","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=148873"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/148873\/revisions"}],"predecessor-version":[{"id":148876,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/148873\/revisions\/148876"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/148874"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=148873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=148873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=148873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}