{"id":153408,"date":"2023-09-11T11:11:01","date_gmt":"2023-09-11T05:41:01","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=153408"},"modified":"2023-09-11T11:11:01","modified_gmt":"2023-09-11T05:41:01","slug":"solana-takes-hit-and-could-dive-to-15-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/solana-takes-hit-and-could-dive-to-15-crypto-news\/","title":{"rendered":"Solana Takes Hit and Could Dive To $15 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Solana is gaining bearish momentum below $20 against the US Dollar. SOL price is struggling and could drop further toward $16.50 or even $15.00.<\/em><\/p>\n<ul>\n<li>SOL price is showing bearish signs below $20.00 and $20.50 against the US Dollar.<\/li>\n<li>The price is now trading below $20 and the 100 simple moving average (4 hours).<\/li>\n<li>There is a major bearish trend line forming with resistance near $19.20 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).<\/li>\n<li>The pair could continue to down if there is a close below the $17.80 support.<\/li>\n<\/ul>\n<h2>Solana Price Drops Further<\/h2>\n<p>In the past few days, Solana\u2019s price made a couple of attempts to clear the $22.00 resistance. However, SOL failed to gain strength for a move above the $22.00 level.<\/p>\n<p>As a result, there was a fresh bearish reaction below the $21.20 support, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-break-risk-25350\/\">Bitcoin<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-could-decline-heavily-1600\/\">Ethereum<\/a>. More importantly, FTX\u2019s news of a possible selling of SOL is also putting a lot of pressure on the bulls. The price gained bearish momentum and traded below the $20.00 support.<\/p>\n<p>Finally, it found support near $17.80. A low is formed near $17.78 and the price is now consolidating losses. SOL is now trading below $20 and the 100 simple moving average (4 hours).<\/p>\n<p>Besides, there is a major bearish trend line forming with resistance near $19.20 on the 4-hour chart of the SOL\/USD pair. On the upside, immediate resistance is near the $18.50 level or the 23.6% Fib retracement level of the downward move from the $20.59 swing high to the $17.78 low.<\/p>\n<\/p>\n<p>Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/SOLUSD\/\">SOLUSD on TradingView.com<\/a><\/p>\n<p>The first major resistance is near the $19.20 level or the trend line. The next key resistance is near the 76.4% Fib retracement level of the downward move from the $20.59 swing high to the $17.78 low at $20.00. A clear move above the $20.00 resistance might send the price toward the $21.20 resistance. Any more gains might send the price toward the $22 level.<\/p>\n<h2>More Losses in SOL?<\/h2>\n<p>If SOL fails to clear the $19.20 resistance, it could continue to move down. Initial support on the downside is near the $17.80 level.<\/p>\n<p>The first major support is near the $17.20 level. If there is a close below the $17.20 support, the price could decline toward the $16.50 support. In the stated case, there is a risk of more downsides toward the $15.00 support in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>4-Hours MACD \u2013 The MACD for SOL\/USD is gaining pace in the bearish zone.<\/p>\n<p>4-Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $17.80, and $17.20.<\/p>\n<p>Major Resistance Levels \u2013 $19.20, $20.00, and $22.00.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Solana is gaining bearish momentum below $20 against the US Dollar. SOL price is struggling and could drop further toward $16.50 or even $15.00. SOL price is showing bearish signs below $20.00 and $20.50 against the US Dollar. The price is now trading below $20 and the 100 simple moving average (4 hours). There is [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":153409,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-153408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/153408","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=153408"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/153408\/revisions"}],"predecessor-version":[{"id":153410,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/153408\/revisions\/153410"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/153409"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=153408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=153408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=153408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}