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Solana, much like a weary traveler trudging through a storm, dipped below the $162 mark. Now, it gathers its strength, attempting to ascend, but the $166 hurdle stands tall, mocking its efforts.
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- SOL price, like a sparrow caught in a gale, tumbled below $165 and $162 against the almighty US Dollar.
- Currently, it hovers below $165 and the 100-hourly simple moving average, clinging to hope.
- A glimmer of optimism emerged as it broke above a key bearish trend line with resistance at $155 on the hourly chart of the SOL/USD pair (data sourced from Kraken).
- If SOL manages to conquer $165 and $166, it might just start climbing again, like a determined mountaineer.
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Solana’s Desperate Climb for Redemption
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Solana, much like its crypto cousins Bitcoin and Ethereum, failed to hold its ground above $175. It slid beneath the $170 and $165 support levels, its dignity in tatters.
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Bearish momentum took hold below $160, pushing SOL to a low of $145. But like a phoenix rising from the ashes, it began a recovery wave. It even surpassed the 23.6% Fib retracement level of the downward move from the $188 swing high to the $145 low. Impressive, right? 🦸\u200d♂️
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Moreover, it broke above a key bearish trend line with resistance at $155 on the hourly chart of the SOL/USD pair. Yet, it still languishes below $165 and the 100-hourly simple moving average. Oh, the irony.
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On the upside, immediate resistance looms near $165. The next major resistance is near $166 and the 50% Fib retracement level of the downward move from the $188 swing high to the $145 low. The ultimate test? $172. A successful close above this zone could pave the way for steady gains. Next stop: $180. And if the stars align, SOL might even reach $188. Dare to dream!
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Will Solana Slide Again? 🙊
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If SOL fails to conquer $166, it might resume its descent. Initial support lies near $160, followed by the $155 level. A break below $155 could send it spiraling toward $148. And if it closes below $148? Brace yourself for the $142 zone. Ouch.
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Technical Indicators
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Hourly MACD – The MACD for SOL/USD is losing steam in the bearish zone. Fatigue, perhaps?
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Hourly RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. A tiny victory, but a victory nonetheless.
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Major Support Levels – $155 and $148. Hold on tight!
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Major Resistance Levels – $165 and $166. Can Solana break free?
\n
Solana, much like a weary traveler trudging through a storm, dipped below the $162 mark. Now, it gathers its strength, attempting to ascend, but the $166 hurdle stands tall, mocking its efforts.
- SOL price, like a sparrow caught in a gale, tumbled below $165 and $162 against the almighty US Dollar.
- Currently, it hovers below $165 and the 100-hourly simple moving average, clinging to hope.
- A glimmer of optimism emerged as it broke above a key bearish trend line with resistance at $155 on the hourly chart of the SOL/USD pair (data sourced from Kraken).
- If SOL manages to conquer $165 and $166, it might just start climbing again, like a determined mountaineer.
Solana’s Desperate Climb for Redemption
Solana, much like its crypto cousins Bitcoin and Ethereum, failed to hold its ground above $175. It slid beneath the $170 and $165 support levels, its dignity in tatters.
Bearish momentum took hold below $160, pushing SOL to a low of $145. But like a phoenix rising from the ashes, it began a recovery wave. It even surpassed the 23.6% Fib retracement level of the downward move from the $188 swing high to the $145 low. Impressive, right? 🦸♂️
Moreover, it broke above a key bearish trend line with resistance at $155 on the hourly chart of the SOL/USD pair. Yet, it still languishes below $165 and the 100-hourly simple moving average. Oh, the irony.
On the upside, immediate resistance looms near $165. The next major resistance is near $166 and the 50% Fib retracement level of the downward move from the $188 swing high to the $145 low. The ultimate test? $172. A successful close above this zone could pave the way for steady gains. Next stop: $180. And if the stars align, SOL might even reach $188. Dare to dream!
Will Solana Slide Again? 🙊
If SOL fails to conquer $166, it might resume its descent. Initial support lies near $160, followed by the $155 level. A break below $155 could send it spiraling toward $148. And if it closes below $148? Brace yourself for the $142 zone. Ouch.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is losing steam in the bearish zone. Fatigue, perhaps?
Hourly RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. A tiny victory, but a victory nonetheless.
Major Support Levels – $155 and $148. Hold on tight!
Major Resistance Levels – $165 and $166. Can Solana break free?
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2025-11-06 08:14