{"id":568468,"date":"2024-01-08T05:28:56","date_gmt":"2024-01-08T05:28:56","guid":{"rendered":"https:\/\/wncen.com\/?p=568468"},"modified":"2024-06-11T14:44:09","modified_gmt":"2024-06-11T14:44:09","slug":"sol-price-prediction-solana-drop-68","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/sol-price-prediction-solana-drop-68\/","title":{"rendered":"SOL Price Prediction \u2013 Why Solana Could See Sharp Downside Thrust"},"content":{"rendered":"
Solana is moving lower from the $115 resistance. SOL price is showing a few bearish signs and might decline sharply toward the $68 support.<\/em><\/p>\n
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SOL price started a fresh decline from the $115 resistance against the US Dollar.<\/li>\n
The price is now trading below $100 and the 100 simple moving average (4 hours).<\/li>\n
There is a key bearish trend line forming with resistance near $92 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).<\/li>\n
The pair could continue to move down toward the $80 support or even $68.<\/li>\n<\/ul>\n
Solana Price Starts Downside Correction<\/h2>\n
After a steady increase, Solana bulls struggled to clear the $115 resistance. SOL price formed a short-term top and started a fresh decline below the $105 support.<\/p>\n
There was a steady decline below the $100 pivot level. The bears pushed the price below the 50% Fib retracement level of the upward move from the $71 swing low to the $108 high. The price is now showing a few bearish signs from the $115 resistance zone, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n