{"id":177060,"date":"2023-10-19T11:24:16","date_gmt":"2023-10-19T05:54:16","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=177060"},"modified":"2023-10-19T11:24:16","modified_gmt":"2023-10-19T05:54:16","slug":"why-solana-could-surge-25-above-this-key-hurdle-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/why-solana-could-surge-25-above-this-key-hurdle-crypto-news\/","title":{"rendered":"Why Solana Could Surge 25% Above This Key Hurdle &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Solana is correcting gains from the $25 resistance against the US Dollar. SOL price remains supported and might aim for a fresh rally toward $30.<\/em><\/p>\n<ul>\n<li>SOL price started a downside correction after it failed to clear the $25 resistance against the US Dollar.<\/li>\n<li>The price is now trading above $23.00 and the 100 simple moving average (4 hours).<\/li>\n<li>There is a key contracting triangle forming with resistance near $23.90 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).<\/li>\n<li>The pair could start a strong rally if it clears the $24 and $25 resistance levels.<\/li>\n<\/ul>\n<h2>Solana Price Remains In Uptrend<\/h2>\n<p>After a steady increase, Solana struggled to clear the $25 resistance zone. SOL formed a high at $24.82 and recently started a downside correction, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-thrust-28k\/\">Bitcoin<\/a>.<\/p>\n<p>There was a move below the $24.20 and $22.00 levels. The bears pushed the price below the 23.6% Fib retracement level of the upward move from the $20.94 swing low to the $24.82 high. There is also a key contracting triangle forming with resistance near $23.90 on the 4-hour chart of the SOL\/USD pair.<\/p>\n<p>SOL is now trading above $23.00 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/sol-price-prediction-trend-push-solana-20\/\">100 simple moving average (4 hours)<\/a>. It is now showing positive signs and remains supported above the $22.00 pivot level.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/10\/Solana-2.png?resize=1024%2C468\"><\/a><\/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>On the upside, immediate resistance is near the $24.00 level and the triangle region. The first major resistance is near the $24.00 level. The main resistance is still near the $25.00 zone. A successful close above the $25.00 resistance could set the pace for a larger increase. The next key resistance is near $28.50. Any more gains might send the price toward the $30.00 level.<\/p>\n<h2>Are Dips Limited in SOL?<\/h2>\n<p>If SOL fails to recover above the $24.00 resistance, it could continue to move down. Initial support on the downside is near the $22.85 level or the 50% Fib retracement level of the upward move from the $20.94 swing low to the $24.82 high.<\/p>\n<p>The first major support is near the $22.40 level. If there is a close below the $22.40 support, the price could decline toward the $21.80 support. In the stated case, there is a risk of more downsides toward the $20.50 support in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>4-Hours MACD \u2013 The MACD for SOL\/USD is losing pace in the bearish zone.<\/p>\n<p>4-Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $22.85, and $22.40.<\/p>\n<p>Major Resistance Levels \u2013 $23.90, $24.00, and $25.00.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Solana is correcting gains from the $25 resistance against the US Dollar. SOL price remains supported and might aim for a fresh rally toward $30. SOL price started a downside correction after it failed to clear the $25 resistance against the US Dollar. The price is now trading above $23.00 and the 100 simple moving [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":177061,"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-177060","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\/177060","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=177060"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177060\/revisions"}],"predecessor-version":[{"id":177062,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/177060\/revisions\/177062"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/177061"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=177060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=177060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=177060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}