1 days ago
Solana started a fresh decline below the $250 support. SOL price is consolidating and might face resistance near the $235 and $242 levels. SOL price started a fresh decline below the $250 and $240 levels against the US Dollar. The price is now trading below $240 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $235 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if the bulls clear the $242 zone. Solana Price Dips Below $250 Solana price struggled to clear the $260 resistance and started a fresh decline, like Bitcoin and Ethereum . SOL declined below the $250 and $242 support levels. It even dived below the $230 level. The recent low was formed at $225 and the price is now consolidating losses. It climbed a few points above the $230 level. It cleared the 23.6% Fib retracement level of the downward move from the $244 swing high to the $225 low. Solana is now trading below $240 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $235 level or the 50% Fib retracement level of the downward move from the $244 swing high to the $225 low. There is also a key bearish trend line forming with resistance at $235 on the hourly chart of the SOL/USD pair. The next major resistance is near the $242 level. The main resistance could be $250. A successful close above the $250 resistance zone could set the pace for another steady increase. The next key resistance is $260. Any more gains might send the price toward the $275 level. Another Decline in SOL? If SOL fails to rise above the $235 resistance, it could start another decline. Initial support on the downside is near the $225 zone. The first major support is near the $222 level. A break below the $222 level might send the price toward the $212 zone. If there is a close below the $212 support, the price could decline toward the $200 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is losing pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $225 and $222. Major Resistance Levels – $235 and $242.
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Technical analysis Sol Solana solbtc SOLUSD SOLUSDT
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JUPITER PRICE ANALYSIS & PREDICTION (January 29) – JUP Negotiates Next Move as it Floats Around $1, Where Will it Go?
Several Solana-based projects have posted huge losses in the past few days, including Jup which is now down by 3% today. A recovery above the previous monthly high should set the stage for a big increase. Last week, Jup showed signs of strength and went offensive after seeing a notable increase in the volume level. Things escalated positively fast as many traders became optimistic about a possible rally, but the asset faced rejection and the buying pressure faded off quickly. Interestingly, the $1 level provided support in the past few days and became a critical trading level for Jup since it faced rejection last weekend. Though, like many altcoins, the price currently appears weak. Losing this critical trading level could cause a serious decline in the price. This could roll the price back to the $0.7 range before picking up again. Failure to bounce back might result in a heavy loss, which may slide the price to a yearly low. However, Jup’s next move is still indecisive. A push above the previous weekly high should give room for more positive actions daily. Apart from that, we can expect a new high to surface before rallying hard. It is currently gathering momentum for another major swing. JUP’s Key Level To Watch Source: Tradingview On the daily chart, the bulls are still having the upper hand. If they regroup back, the $1.28 level would be their target before charging at the $1.44 resistance on the way up. The $1.6 level is the next resistance to watch. Losing $1, there’s a minor support at $0.9. A further drop from there could pull us to a low of $0.8, followed by $0.71. Key Resistance Levels: $1.28, $1.44, $1.6 Key Support Levels: $0.9, $0.8, $0.71 Spot Price: $1.1 Trend: Bullish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: rawpixelmasitta/ 123RF // Image Effects by Colorcinch NewsBTC
