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Solana (SOL) Faces Many Challenges—Can Bulls Hold the Line?

by Catatonic Times
March 13, 2025
in Analysis
Reading Time: 2 mins read
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Solana began a restoration wave above the $120 resistance zone. SOL worth is now consolidating and may battle to get better above the $132 resistance.

SOL worth began a recent decline beneath the $150 and $140 ranges towards the US Greenback.
The value is now buying and selling beneath $130 and the 100-hourly easy shifting common.
There’s a short-term rising channel forming with help at $124 on the hourly chart of the SOL/USD pair (knowledge supply from Kraken).
The pair might begin a recent enhance if the bulls clear the $132 zone.

Solana Worth Faces Resistance

Solana worth struggled to clear the $155 resistance and began a recent decline, like Bitcoin and Ethereum. SOL declined beneath the $140 and $132 help ranges.

It even dived beneath the $120 stage. The current low was fashioned at $114 earlier than the worth recovered some losses. It climbed above the $120 and $122 ranges. The value surpassed the 23.6% Fib retracement stage of the downward transfer from the $151 swing excessive to the $114 swing low.

Solana is now buying and selling beneath $130 and the 100-hourly easy shifting common. There may be additionally a short-term rising channel forming with help at $124 on the hourly chart of the SOL/USD pair.

On the upside, the worth is going through resistance close to the $128 stage. The subsequent main resistance is close to the $130 stage. The primary resistance might be $132 and the 50% Fib retracement stage of the downward transfer from the $151 swing excessive to the $114 swing low.

A profitable shut above the $132 resistance zone might set the tempo for one more regular enhance. The subsequent key resistance is $140. Any extra beneficial properties may ship the worth towards the $150 stage.

One other Decline in SOL?

If SOL fails to rise above the $132 resistance, it might begin one other decline. Preliminary help on the draw back is close to the $124 zone. The primary main help is close to the $120 stage.

A break beneath the $120 stage may ship the worth towards the $114 zone. If there’s a shut beneath the $114 help, the worth might decline towards the $100 help within the close to time period.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is dropping tempo within the bullish zone.

Hourly Hours RSI (Relative Energy Index) – The RSI for SOL/USD is close to the 50 stage.

Main Assist Ranges – $124 and $120.

Main Resistance Ranges – $128 and $132.



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Tags: BullsChallengesCanfacesHoldLineSOLSolana
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