{"id":24143,"date":"2023-06-15T04:35:15","date_gmt":"2023-06-15T04:35:15","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/06\/15\/heres-why-solanas-recovery-wont-be-easy\/"},"modified":"2023-06-15T04:35:15","modified_gmt":"2023-06-15T04:35:15","slug":"heres-why-solanas-recovery-wont-be-easy","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/06\/15\/heres-why-solanas-recovery-wont-be-easy\/","title":{"rendered":"Here\u2019s Why Solana\u2019s Recovery Won\u2019t Be Easy"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Solana gained bearish momentum and traded beneath $15 towards the US Dollar. SOL value may now wrestle to get better above the $15 and $17.50 resistance ranges.<\/em><\/p>\n<ul>\n<li>SOL value is displaying bearish indicators beneath the $20 resistance towards the US Dollar.<\/li>\n<li>The value is now buying and selling beneath $15 and the 100 easy transferring common (4 hours).<\/li>\n<li>There is a significant bearish development line forming with resistance close to $15.25 on the 4-hour chart of the SOL\/USD pair (information supply from Kraken).<\/li>\n<li>The pair may get better however upsides may be restricted above $17.50.<\/li>\n<\/ul>\n<h2>Solana Price Drops 20%<\/h2>\n<p>In the previous few days, Solana\u2019s value began a contemporary decline from properly above $20. SOL gained bearish momentum and was in a position to commerce beneath the $17.50 help.<\/p>\n<p>The bears gained energy and pushed the worth beneath the $15 help. The value is now displaying bearish indicators beneath $15, just like <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-plunges-24k-next\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> and <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-resumes-downtrend-1500\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">Ethereum<\/a>. A low is fashioned close to $13.00 and the worth is now consolidating losses.<\/p>\n<p>SOL is now buying and selling beneath $15 and the 100 easy transferring common (4 hours). There can be a significant bearish development line forming with resistance close to $15.25 on the 4-hour chart of the SOL\/USD pair. On the upside, quick resistance is close to the $15 stage and the development line.<\/p>\n<p>The development line is near the 23.6% Fib retracement stage of the downward transfer from the $22.32 swing excessive to the $13.00 low. The subsequent main resistance is close to the $16 zone.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-538016\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Solana.png\" alt=\"SOL Price Prediction\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Solana.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Solana-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Solana-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Solana-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Solana-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Solana-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Solana-1140x525.png 1140w\" sizes=\"auto, (max-width: 1834px) 100vw, 1834px\"\/><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/SOLUSD\/\" target=\"_blank\" rel=\"nofollow noopener\">SOLUSD on TradingView.com<\/a><\/p>\n<p>The foremost resistance is now forming close to the $17.50 stage or the 50% Fib retracement stage of the downward transfer from the $22.32 swing excessive to the $13.00 low. A detailed above the $17.50 stage may resend the worth towards the $18.80 resistance zone. Any extra good points may ship the worth towards the $20 stage.<\/p>\n<h2>More Losses in SOL?<\/h2>\n<p>If SOL fails to clear the $17.50 resistance, it may proceed to maneuver down. Initial help on the draw back is close to the $14.30 stage.<\/p>\n<p>The first main help is close to the $13.00 stage, beneath which the bears may achieve energy. In the said case, the worth might maybe decline towards the $12.00 help. The subsequent main help is close to the $10.50 stage.<\/p>\n<p>Technical Indicators<\/p>\n<p>4-Hours MACD \u2013 The MACD for SOL\/USD is dropping tempo within the bearish zone.<\/p>\n<p>4-Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is beneath the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $14.30, and $13.00.<\/p>\n<p>Major Resistance Levels \u2013 $15.25, $17.50, and $18.80.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/sol-price-prediction-solanas-12\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Solana gained bearish momentum and traded beneath $15 towards the US Dollar. SOL value may now wrestle to get better above the $15 and $17.50 resistance ranges. SOL value is displaying bearish indicators beneath the $20 resistance towards the US Dollar. The value is now buying and selling beneath $15 and the 100 easy 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