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    Home»Altcoins»Solana (SOL) Faces Many Challenges—Can Bulls Maintain the Line?
    Solana (SOL) Faces Many Challenges—Can Bulls Maintain the Line?
    Altcoins

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

    By Crypto EditorMarch 13, 2025No Comments3 Mins Read
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    Solana began a restoration wave above the $120 resistance zone. SOL worth is now consolidating and would possibly wrestle to get better above the $132 resistance.

    • SOL worth began a contemporary 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 contemporary improve if the bulls clear the $132 zone.

    Solana Value Faces Resistance

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

    It even dived beneath the $120 degree. The current low was shaped at $114 earlier than the value recovered some losses. It climbed above the $120 and $122 ranges. The value surpassed the 23.6% Fib retracement degree 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 value is going through resistance close to the $128 degree. The following main resistance is close to the $130 degree. The principle resistance could possibly be $132 and the 50% Fib retracement degree of the downward transfer from the $151 swing excessive to the $114 swing low.

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

    A profitable shut above the $132 resistance zone might set the tempo for an additional regular improve. The following key resistance is $140. Any extra positive aspects would possibly ship the value towards the $150 degree.

    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 degree.

    A break beneath the $120 degree would possibly ship the value towards the $114 zone. If there’s a shut beneath the $114 help, the value might decline towards the $100 help within the close to time period.

    Technical Indicators

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

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

    Main Help Ranges – $124 and $120.

    Main Resistance Ranges – $128 and $132.



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