{"id":1224,"date":"2024-11-13T06:00:20","date_gmt":"2024-11-13T06:00:20","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/solana-sol-needs-to-hold-200-for-next-rally-will-it-succeed\/"},"modified":"2024-11-13T06:00:20","modified_gmt":"2024-11-13T06:00:20","slug":"solana-sol-needs-to-hold-200-for-next-rally-will-it-succeed","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/solana-sol-needs-to-hold-200-for-next-rally-will-it-succeed\/","title":{"rendered":"Solana (SOL) Needs to Hold $200 for Next Rally: Will It Succeed?"},"content":{"rendered":"<p><em>Solana started a fresh increase above the $200 support zone. SOL price is correcting gains and must stay above $200 for a fresh increase.<\/em><\/p>\n<ul>\n<li>SOL price started a fresh increase after it settled above the $188 level 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 was a break below a key bullish trend line with support at $210 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 defend the $200 support zone.<\/li>\n<\/ul>\n<h2>Solana Price Starts Downside Correction<\/h2>\n<p>Solana price formed a support base and started a fresh increase above the $185 level like Bitcoin and Ethereum. There was a strong move above the $195 and $200 resistance levels.<\/p>\n<p>The price even cleared the $212 level. A high was formed at $225 and the price is now correcting gains. There was a move below the $220 and $212 levels. The price dipped below the 50% Fib retracement level of the upward move from the $195 swing low to the $225 high.<\/p>\n<p>There was a break below a key bullish trend line with support at $210 on the hourly chart of the SOL\/USD pair. Solana is now trading below $212 and the 100-hourly simple moving average.<\/p>\n<p>The price is now approaching the key support at $200 and the 76.4% Fib retracement level of the upward move from the $195 swing low to the $225 high. On the upside, the price is facing resistance near the $208 level. The next major resistance is near the $212 level.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"wp-image-652839 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/11\/Solana_c55d87.png?resize=1024%2C478\" alt=\"Solana Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>The main resistance could be $225. A successful close above the $225 resistance level could set the pace for another steady increase. The next key resistance is $242. Any more gains might send the price toward the $250 level.<\/p>\n<h2>More Losses in SOL?<\/h2>\n<p>If SOL fails to rise above the $212 resistance, it could continue to move down. Initial support on the downside is near the $202 level. The first major support is near the $200 level.<\/p>\n<p>A break below the $200 level might send the price toward the $195 zone. If there is a close below the $195 support, the price could decline toward the $185 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 $200 and $195.<\/p>\n<p>Major Resistance Levels \u2013 $208 and $212.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana started a fresh increase above the $200 support zone. SOL price is correcting gains and must stay above $200 for a fresh increase. SOL price started a fresh increase after it settled above the $188 level against the US Dollar. The price is now trading below $212 and the 100-hourly simple moving average. There&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[174,109,251,177,117,123],"class_list":["post-1224","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:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/1224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=1224"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/1224\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/1225"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=1224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=1224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=1224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}