{"id":507235,"date":"2022-10-20T21:00:39","date_gmt":"2022-10-20T21:00:39","guid":{"rendered":"https:\/\/wncen.com\/?p=507235"},"modified":"2024-06-11T13:16:51","modified_gmt":"2024-06-11T13:16:51","slug":"solana-sol-breaks-below-30-support-have-bulls-given-up-so-soon","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/solana-sol-breaks-below-30-support-have-bulls-given-up-so-soon\/","title":{"rendered":"Solana (SOL) Breaks Below $30 Support; Have Bulls Given Up So Soon?"},"content":{"rendered":"<ul>\n<li><strong><span data-preserver-spaces=\"true\">SOL&#8217;s price struggles to hold above key support as price trades below the region of interest for more uptrend.\u00a0<\/span><\/strong><\/li>\n<li><strong><span data-preserver-spaces=\"true\">SOL continues to struggle as prices get rejected in a downtrend price movement after losing support to bears.\u00a0<\/span><\/strong><\/li>\n<li><strong><span data-preserver-spaces=\"true\">The price of SOL trades below $30 for the first time after a while as the price continues its movement below 50 and 200 Exponential Moving Averages (EMA) on the daily timeframe.\u00a0<\/span><\/strong><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">The price of Solana (SOL) hasn&#8217;t looked as strong as it should, as the price lost its key support and has tested this region on several occasions against tether (USDT). Although the uncertainty that surrounds the crypto market could be a huge factor as the price of Bitcoin (BTC) and other crypto assets such as Ethereum (ETH) have seen a slight setback in their price movement, the price of Solana (SOL) hasn&#8217;t seen its price show some sense of relief lately. (Data from Binance)<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-volatility-falls-lowest-post-covid-rebound\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Volatility Falls To Lowest Since Post-COVID Rebound<\/a><\/div>\n<h2><span data-preserver-spaces=\"true\">Solana (SOL) Price Analysis On The Weekly Chart.<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Most projects have not fared well in the bear market, as most have seen more than 50% price declines, discouraging most traders and investors from stockpiling these assets.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Despite massive support from great partnerships and a massive community that has continued to build and grow, the price of SOL has struggled to keep prices from falling as bulls were unable to defend key support zones.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The last rally for SOL was a spectacle for many as most investors and traders witnessed firsthand the price action showed by SOL rallying from a low of $2 to a high of $250.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">After rallying to a high of $250, the price of SOL faced resistance to trend higher to a new all-time high as the price has struggled to replicate a glimpse of the rally as the price was rejected to a weekly low of $80.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The price of SOL bounced off from this low to a high of $137 but was rejected as price continued its decline to a low of $30 as price struggled to defend this region.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Weekly resistance for the price of SOL- $45.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Weekly support for the price of SOL &#8211; $24.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Price Analysis Of SOL On The Daily (1D) Chart<\/span><\/h2>\n<figure id=\"attachment_507240\" aria-describedby=\"caption-attachment-507240\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-507240\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/SOLUSDT_2022-10-20_20-25-22.png?resize=860%2C569\" alt=\"\" width=\"860\" height=\"569\"><figcaption id=\"caption-attachment-507240\" class=\"wp-caption-text\">Daily SOL Price Chart | Source: SOLUSDT On <a href=\"https:\/\/www.tradingview.com\/x\/Pvm7uXnz\/\" target=\"_blank\" rel=\"noopener nofollow\">Tradingview.com<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">In the daily timeframe, the price of SOL continued to struggle as bulls could not defend the key support region of $30.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">After dropping to a low of $28, where the price formed good support, the price of SOL rallied to a high of $47, where the price was rejected and has continued to move in a <a href=\"https:\/\/www.investopedia.com\/terms\/r\/rangeboundtrading.asp\" target=\"_blank\" rel=\"noopener nofollow\">range<\/a> forming a descending triangle in an attempt to start its rally on a possible breakout.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The price of SOL broke out to the downside of the trend signaling the bears taking over; if the bulls fail to reclaim $30-$35, we could see the price of SOL going lower to $24-$20.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Daily resistance for the SOL price &#8211; $35.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Daily support for the SOL price &#8211; $24-$20.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/altcoin\/missed-aptos-here-are-5-projects-that-may-airdrop\/\" target=\"_blank\" rel=\"noopener \">Missed Aptos? Here Are 5 Projects That May Airdrop<\/a><\/div>\n<pre style=\"text-align: center\"><span data-preserver-spaces=\"true\">Featured Image From zipmex, Charts From Tradingview\u00a0<\/span><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>SOL&#8217;s price struggles to hold above key support as price trades below the region of interest for more uptrend.\u00a0 SOL continues to struggle as prices get rejected in a downtrend price movement after losing support to bears.\u00a0 The price of SOL trades below $30 for the first time after a while as the price continues its movement below 50 and 200 Exponential Moving Averages (EMA) on the daily timeframe.\u00a0 The price of Solana (SOL) hasn&#8217;t looked as strong as it should, as the price lost its key support and has tested this region on several occasions against tether (USDT). Although the uncertainty that surrounds the crypto market could be a huge factor as the price of Bitcoin (BTC) and other crypto assets such as Ethereum (ETH) have seen a slight setback in their price movement, the price of Solana (SOL) hasn&#8217;t seen its price show some sense of relief lately. (Data from Binance) Related Reading: Bitcoin Volatility Falls To Lowest Since Post-COVID Rebound Solana (SOL) Price Analysis On The Weekly Chart. Most projects have not fared well in the bear market, as most have seen more than 50% price declines, discouraging most traders and investors from stockpiling these assets. Despite massive support from great partnerships and a massive community that has continued to build and grow, the price of SOL has struggled to keep prices from falling as bulls were unable to defend key support zones. The last rally for SOL was a spectacle for many as most investors and traders witnessed firsthand the price action showed by SOL rallying from a low of $2 to a high of $250. After rallying to a high of $250, the price of SOL faced resistance to trend higher to a new all-time high as the price has struggled to replicate a glimpse of the rally as the price was rejected to a weekly low of $80. The price of SOL bounced off from this low to a high of $137 but was rejected as price continued its decline to a low of $30 as price struggled to defend this region.\u00a0 Weekly resistance for the price of SOL- $45. Weekly support for the price of SOL &#8211; $24. Price Analysis Of SOL On The Daily (1D) Chart In the daily timeframe, the price of SOL continued to struggle as bulls could not defend the key support region of $30. After dropping to a low of $28, where the price formed good support, the price of SOL rallied to a high of $47, where the price was rejected and has continued to move in a range forming a descending triangle in an attempt to start its rally on a possible breakout. The price of SOL broke out to the downside of the trend signaling the bears taking over; if the bulls fail to reclaim $30-$35, we could see the price of SOL going lower to $24-$20. Daily resistance for the SOL price &#8211; $35. Daily support for the SOL price &#8211; $24-$20. Related Reading: Missed Aptos? Here Are 5 Projects That May Airdrop Featured Image From zipmex, Charts From Tradingview\u00a0<\/p>\n","protected":false},"author":566,"featured_media":507244,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[12837,86420,86515],"class_list":["post-507235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-sol","tag-sol-price","tag-solana-sol"],"acf":[],"yoast_head":"\n<title>Solana (SOL) Breaks Below $30 Support; Have Bulls Given Up So Soon?<\/title>\n<meta name=\"description\" content=\"The price of Solana (SOL) hasn&#039;t looked as strong as it should, as the price lost its key support and has tested this region on several\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/solana-sol-breaks-below-30-support-have-bulls-given-up-so-soon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solana (SOL) Breaks Below $30 Support; 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