{"id":1744,"date":"2024-12-11T06:00:23","date_gmt":"2024-12-11T06:00:23","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/solana-sol-encounters-barriers-is-a-fresh-surge-still-possible\/"},"modified":"2024-12-11T06:00:23","modified_gmt":"2024-12-11T06:00:23","slug":"solana-sol-encounters-barriers-is-a-fresh-surge-still-possible","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/solana-sol-encounters-barriers-is-a-fresh-surge-still-possible\/","title":{"rendered":"Solana (SOL) Encounters Barriers: Is a Fresh Surge Still Possible?"},"content":{"rendered":"<p><em>Solana started a downside correction below the $230 zone. SOL price is now recovering losses and facing hurdles near the $220 level.<\/em><\/p>\n<ul>\n<li>SOL price started a fresh increase after it tested the $204 zone against the US Dollar.<\/li>\n<li>The price is now trading below $230 and the 100-hourly simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance at $220 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 clear the $220 zone.<\/li>\n<\/ul>\n<h2>Solana Price Eyes Upside Break<\/h2>\n<p>Solana price formed a support base and started a fresh increase from the $204 level like Bitcoin and Ethereum. There was a decent increase above the $210 and $212 resistance levels.<\/p>\n<p>There was a move above the 23.6% Fib retracement level of the downward move from the $243 swing high to the $203 low. However, the price is now facing many hurdles near $220. Solana is now trading above $218 and the 100-hourly simple moving average.<\/p>\n<p>On the upside, the price is facing resistance near the $220 level. There is also a key bearish trend line forming with resistance at $220 on the hourly chart of the SOL\/USD pair.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"size-full wp-image-660560\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/Solana_00c366.png?resize=1024%2C478\" alt=\"Solana Price \" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/p>\n<p>The next major resistance is near the $224 level or the 50% Fib retracement level of the downward move from the $243 swing high to the $203 low. The main resistance could be $228. A successful close above the $228 resistance level could set the pace for another steady increase. The next key resistance is $235. Any more gains might send the price toward the $250 level.<\/p>\n<h2>Another Decline in SOL?<\/h2>\n<p>If SOL fails to rise above the $220 resistance, it could start another decline. Initial support on the downside is near the $212 level. The first major support is near the $205 level.<\/p>\n<p>A break below the $205 level might send the price toward the $200 zone. If there is a close below the $200 support, the price could decline toward the $188 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 bullish zone.<\/p>\n<p>Hourly Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $212 and $205.<\/p>\n<p>Major Resistance Levels \u2013 $220 and $228.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana started a downside correction below the $230 zone. SOL price is now recovering losses and facing hurdles near the $220 level. SOL price started a fresh increase after it tested the $204 zone against the US Dollar. The price is now trading below $230 and the 100-hourly simple moving average. There is a key&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1745,"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-1744","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\/1744","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=1744"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/1744\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/1745"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=1744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=1744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=1744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}