{"id":576724,"date":"2024-02-24T19:00:52","date_gmt":"2024-02-24T19:00:52","guid":{"rendered":"https:\/\/wncen.com\/?p=576724"},"modified":"2024-02-24T15:31:16","modified_gmt":"2024-02-24T15:31:16","slug":"solana-100-day-ma-sol-price","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/solana\/solana-100-day-ma-sol-price\/","title":{"rendered":"Solana Drops Below 100-Day MA On 4-Hour Chart, SOL Price In Danger?"},"content":{"rendered":"

Having failed to break its previous high for the year, the price of Solana has continued to move downward. From the height of $118.88, the coin, which is currently ranked 5th in the crypto space with a total supply of 440,961,455 SOL and a market capitalization of $58.2 million,\u00a0 has made a drop of over 25% and is not showing any signs of stopping.<\/span><\/p>\n

As of the time of writing, the price of SOL was up by 2.76% and trading around $102.63, below the 100-day moving average in the last 24 hours. Meanwhile, in the daily timeframe, the price has dropped a bearish candlestick, indicating that the price is still bearish.<\/span><\/p>\n

The moving average indicator generally is used to determine the trend of an asset, which could be an uptrend or downtrend. Since the price of Solana is trading below the 100-day moving average, could this mean that the price has changed from an uptrend to a downtrend?<\/span><\/p>\n

Related Reading: Pro-Ripple Lawyer Tags Poor XRP Price Performance As Unnatural, Rally Imminent?<\/a><\/div>\n

Solana On The 4-Hour Chart<\/h2>\n

A technical examination of the chart from the 4-hour timeframe and with the help of a trend line we can see that two resistance levels of $118.88 and $114.87 have been created by previous price movement. We can also see that the price has broken the support level of $103.57. Therefore, the price for the next destination might be the $92.84 support level.\u00a0<\/span><\/p>\n

This can be seen in the image below:<\/span><\/p>\n

\"Solana\"<\/p>\n

Source: Tradingview.com<\/pre>\n

Also, taking a look at the 4-hour timeframe chart with the help of the MACD indicator in the above image, we can see that the MACD histogram is trending below the MACD zero line. Both the MACD line and the signal line have crossed and are trending below the MACD zero line, suggesting that the price of SOL is bearish and could continue to move downward.<\/span><\/p>\n

A final look at the chart with the help of the Bull Power Vs. Bear Power Histogram indicator, we can see that the histograms are trending below the zero line. This suggests that buyers have completely lost momentum in the market, and sellers have taken over it. Thus, the price will tend to move downward.\u00a0<\/span><\/p>\n

We can see this in the image below:<\/span><\/p>\n

\"SOL<\/p>\n

Source: Tradingview.com<\/pre>\n

Possible Outcomes If The SOL Price Continues To Drop<\/h2>\n

If SOL continues to drop, we might see the price moving toward the support level of $92.84. Also, if it manages to break below this level, the price might move further downward toward the $79.32 support level.<\/span><\/p>\n

Related Reading: Crypto Platform Which Predicted Bitcoin To Reach $50,000 Has Released A New Target<\/a><\/div>\n

Presently, Solana is seeing minor upsides of 1.3% in the last 24 hours, according to data from CoinMarketCap.<\/span><\/p>\n

\"Solana<\/p>\n

SOL bulls struggle to maintain price at $102 | Source: SOLUSD on Tradingview.com<\/a><\/pre>\n
Featured image from Coinfomania, charts from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Having failed to break its previous high for the year, the price of Solana has continued to move downward. From the height of $118.88, the coin, which is currently ranked 5th in the crypto space with a total supply of 440,961,455 SOL and a market capitalization of $58.2 million,\u00a0 has made a drop of over 25% and is not showing any signs of stopping. As of the time of writing, the price of SOL was up by 2.76% and trading around $102.63, below the 100-day moving average in the last 24 hours. Meanwhile, in the daily timeframe, the price has dropped a bearish candlestick, indicating that the price is still bearish. The moving average indicator generally is used to determine the trend of an asset, which could be an uptrend or downtrend. Since the price of Solana is trading below the 100-day moving average, could this mean that the price has changed from an uptrend to a downtrend? Related Reading: Pro-Ripple Lawyer Tags Poor XRP Price Performance As Unnatural, Rally Imminent? Solana On The 4-Hour Chart A technical examination of the chart from the 4-hour timeframe and with the help of a trend line we can see that two resistance levels of $118.88 and $114.87 have been created by previous price movement. We can also see that the price has broken the support level of $103.57. Therefore, the price for the next destination might be the $92.84 support level.\u00a0 This can be seen in the image below: Source: Tradingview.com Also, taking a look at the 4-hour timeframe chart with the help of the MACD indicator in the above image, we can see that the MACD histogram is trending below the MACD zero line. Both the MACD line and the signal line have crossed and are trending below the MACD zero line, suggesting that the price of SOL is bearish and could continue to move downward. A final look at the chart with the help of the Bull Power Vs. Bear Power Histogram indicator, we can see that the histograms are trending below the zero line. This suggests that buyers have completely lost momentum in the market, and sellers have taken over it. Thus, the price will tend to move downward.\u00a0 We can see this in the image below: Source: Tradingview.com Possible Outcomes If The SOL Price Continues To Drop If SOL continues to drop, we might see the price moving toward the support level of $92.84. Also, if it manages to break below this level, the price might move further downward toward the $79.32 support level. Related Reading: Crypto Platform Which Predicted Bitcoin To Reach $50,000 Has Released A New Target Presently, Solana is seeing minor upsides of 1.3% in the last 24 hours, according to data from CoinMarketCap. SOL bulls struggle to maintain price at $102 | Source: SOLUSD on Tradingview.com Featured image from Coinfomania, charts from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":576727,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[6664,14690,12837,89406,86420,87045,83626,89405,85361,89753,86410,83627],"class_list":["post-576724","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-crypto","tag-crypto-news","tag-sol","tag-sol-news","tag-sol-price","tag-sol-price-analysis","tag-solana","tag-solana-news","tag-solana-price","tag-solana-price-prediction","tag-solusd","tag-solusdt"],"acf":[],"yoast_head":"\nSolana Drops Below 100-Day MA On 4-Hour Chart, SOL Price In Danger?<\/title>\n<meta name=\"description\" content=\"Having failed to break 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Solana Drops Below 100-Day MA On 4-Hour Chart, SOL Price In Danger?","url":"http:\/\/wncen.com\/news\/solana\/solana-100-day-ma-sol-price\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/solana\/solana-100-day-ma-sol-price\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Solana.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Solana.jpeg?fit=1000%2C667"},"articleSection":"Solana","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","crypto news","sol","sol news","sol price","sol price analysis","solana","solana news","solana price","solana price prediction","solusd","solusdt"],"dateCreated":"2024-02-24T19:00:52Z","datePublished":"2024-02-24T19:00:52Z","dateModified":"2024-02-24T19:00:52Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Solana Drops Below 100-Day MA On 4-Hour Chart, SOL Price In Danger?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/solana\\\/solana-100-day-ma-sol-price\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/solana\\\/solana-100-day-ma-sol-price\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Solana.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Solana.jpeg?fit=1000%2C667\"},\"articleSection\":\"Solana\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"crypto news\",\"sol\",\"sol news\",\"sol price\",\"sol price analysis\",\"solana\",\"solana news\",\"solana price\",\"solana price prediction\",\"solusd\",\"solusdt\"],\"dateCreated\":\"2024-02-24T19:00:52Z\",\"datePublished\":\"2024-02-24T19:00:52Z\",\"dateModified\":\"2024-02-24T19:00:52Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/02\/Solana.jpeg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/576724"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=576724"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/576724\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/576727"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=576724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=576724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=576724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}