Solana Price (SOL) Faces Challenges at $200: Bulls Remain Active

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	401,048,385,396	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

401,048,385,396

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	13.61	0.41%	3,334.68	3,334.68	3,334.72

Price Change

Price Change %

Current Price

Bid Price

Offer

13.61

0.41%

3,334.68

3,334.72

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,352.78	3,280.86	3,317.63	3,321.07	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,352.78

3,280.86

3,317.63

3,321.07

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	08:27:21	0.028489	3,334.68	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

08:27:21

0.028489

3,334.68

USD

Price x Volume	Volume	Base Symbol	Related Pairs
112,948,174.75	34,083.22	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

112,948,174.75

34,083.22

Solana Price (SOL) Faces Challenges at $200: Bulls Remain Active

30/07/2024 6:08am

NEWSBTC

Solana extended gains above $180. SOL price is now struggling to reach the $200 level and showing some signs of a downside correction. SOL price started a downside correction from the $192 zone against the US Dollar. The price is now trading below $185 and the 100-hourly simple moving average. There was a break below a key bullish trend line with support at $187 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start another increase unless it settles below the $175 support. Solana Price Fails To Test $200 Solana price remained in a positive zone and extended gains, beating Bitcoin and Ethereum. It traded above the $180 and $185 resistance levels. Finally, it tested the $192 zone and struggled to reach $200. A high was formed near $193.86 and the price started a downside correction. There was a move below the $190 and $188 support levels. The price dipped below the 23.6% Fib retracement level of the upward move from the $165 swing low to the $193 high. Besides, there was a break below a key bullish trend line with support at $187 on the hourly chart of the SOL/USD pair. Solana is now trading below $185 and the 100-hourly simple moving average. The bulls are now active near the $180 support and the 50% Fib retracement level of the upward move from the $165 swing low to the $193 high. On the upside, the price is facing resistance near the $185 level. The next major resistance is near the $188 level. A successful close above the $188 resistance could set the pace for another steady increase. The next key resistance is near $192. Any more gains might send the price toward the $200 level. More Losses in SOL? If SOL fails to rise above the $185 resistance, it could start another decline. Initial support on the downside is near the $180 level. The first major support is near the $175 level. A break below the $175 level might send the price toward $165. If there is a close below the $165 support, the price could decline toward the $155 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bearish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $180 and $175. Major Resistance Levels – $185 and $188.

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