Solana failed to stay above $67 and managed some gains. The price of SOL is falling and you can expect another increase if it stays above $63.00.
- The price of SOL started to improve below $66 against the US Dollar.
- The price is now sold under $ 65 and about 100-hour easy to move.
- There was a break below the bullish line and support at $66 on the hourly chart of the SOL/USD pair (data source from Kraken).
- The pair could extend losses if it breaks below the $63 zone.
Solana Price Dips Again
The price of Solana failed to stay above $67 and began to correct, as Bitcoin and Ethereum. SOL dipped below $66 and $65 to enter the short-term bearish zone.
There was a move below the 50% Fib retracement level of the wave up from the $60.12 swing low to the $67.90 high. There was a break below the bullish line and support at $66 on the hourly chart of the SOL/USD pair. The price tested support at $63.20.
Solana is now selling for under $65 with about 100-hour simple moves. Above, the price is facing resistance near the level of $ 65. The next major resistance is near the level of $ 66. The major resistance would be $ 67.20. A successful close above the $67.20 resistance zone could set the pace for another sustained rally. The next necessary resistance is $68. Any further gains could send the price to the $70 level.
Violation Under SOL?
If SOL fails to rise above the resistance at $66, it could trigger another decline. The initial support on the downside is near the $63.10 zone and the 61.8% Fib retracement level of the rising wave from the $60.12 swing low to the $67.90 high. The first major support is near the $62.20 level.
A break below the $62.20 level could send the price to the $60 support area. If there is a close below the $60 support, the price may drop to the $55 support soon.
Technical Indicators
Hourly MACD – The MACD of SOL/USD is advancing in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI of SOL/USD is below the 50 level.
Major Support Rates – $63.10 and $62.50.
Major Resistance Levels – $65.00 and $67.20.
