SOL Price Prediction: Will Correction Trend Push Solana Under $20?<\/title>\n<meta name=\"description\" content=\"Solana is correcting gains from the $25 resistance against the US Dollar. SOL price could accelerate lower if there is a break below the $21 support.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ktsl888.com\/news\/sol-price-prediction-trend-push-solana-20\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SOL Price Prediction: Will Correction Trend Push Solana Under $20?\" \/>\n<meta property=\"og:description\" content=\"Solana is correcting gains from the $25 resistance against the US Dollar. 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{"id":555247,"date":"2023-10-13T04:23:30","date_gmt":"2023-10-13T04:23:30","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=555247"},"modified":"2024-06-11T13:17:28","modified_gmt":"2024-06-11T13:17:28","slug":"sol-price-prediction-trend-push-solana-20","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/sol-price-prediction-trend-push-solana-20\/","title":{"rendered":"SOL Price Prediction: Will Correction Trend Push Solana Under $20?"},"content":{"rendered":"

Solana is correcting gains from the $25 resistance against the US Dollar. SOL price could accelerate lower if there is a break below the $21 support.<\/em><\/p>\n

\n
SOL price started a fresh decline after it failed to clear the $25 resistance against the US Dollar.<\/li>\n
The price is now trading below $22.00 and the 100 simple moving average (4 hours).<\/li>\n
There is a key bearish trend line forming with resistance near $22.00 on the 4-hour chart of the SOL\/USD pair (data source from Kraken).<\/li>\n
The pair could break the $21 support and accelerate lower toward $18.80.<\/li>\n<\/ul>\n
Solana Price Visits Key Support<\/h2>\n
After a steady increase, Solana struggled to clear the $25 resistance zone. SOL formed a high at $24.77 and recently started a fresh decline.<\/p>\n
There was a move below the $24.00 and $23.50 levels. The bears pushed the price below the 50% Fib retracement level of the upward move from the $18.75 swing low to the $24.77 high. There is also a key bearish trend line forming with resistance near $22.00 on the 4-hour chart of the SOL\/USD pair.<\/p>\n
SOL is now trading below $22.00 and the 100 simple moving average (4 hours). It is also showing bearish signs below $22, like Bitcoin<\/a> and Ethereum<\/a>.<\/p>\n
However, the bulls are now protecting the $21.00 support. It is near the 61.8% Fib retracement level of the upward move from the $18.75 swing low to the $24.77 high. On the upside, immediate resistance is near the $22.00 level and the trend line.<\/p>\n
$\"SOL$ <\/a><\/p>\n
Source: SOLUSD on TradingView.com<\/a><\/p>\n
The first major resistance is near the $22.50 level. A clear move above the $22.50 resistance might send the price toward the $23.50 resistance. The next key resistance is near $24.00. Any more gains might send the price toward the $25.00 level.<\/p>\n
More Losses in SOL?<\/h2>\n
If SOL fails to recover above the $22.00 resistance, it could continue to move down. Initial support on the downside is near the $21.00 level.<\/p>\n
The first major support is near the $20.30 level. If there is a close below the $20.00 support, the price could decline toward the $20.00 support. In the stated case, there is a risk of more downsides toward the $18.80 support in the near term.<\/p>\n
Technical Indicators<\/p>\n
4-Hours MACD \u2013 The MACD for SOL\/USD is gaining pace in the bearish zone.<\/p>\n
4-Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is below the 50 level.<\/p>\n
Major Support Levels \u2013 $21.00, and $20.30.<\/p>\n
Major Resistance Levels \u2013 $22.00, $22.50, and $24.00.<\/p>\n","protected":false},"excerpt":{"rendered":"
Solana is correcting gains from the $25 resistance against the US Dollar. SOL price could accelerate lower if there is a break below the $21 support. SOL price started a fresh decline after it failed to clear the $25 resistance against the US Dollar. The price is now trading below $22.00 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $22.00 on the 4-hour chart of the SOL\/USD pair (data source from Kraken). The pair could break the $21 support and accelerate lower toward $18.80. Solana Price Visits Key Support After a steady increase, Solana struggled to clear the $25 resistance zone. SOL formed a high at $24.77 and recently started a fresh decline. There was a move below the $24.00 and $23.50 levels. The bears pushed the price below the 50% Fib retracement level of the upward move from the $18.75 swing low to the $24.77 high. There is also a key bearish trend line forming with resistance near $22.00 on the 4-hour chart of the SOL\/USD pair. SOL is now trading below $22.00 and the 100 simple moving average (4 hours). It is also showing bearish signs below $22, like Bitcoin and Ethereum. However, the bulls are now protecting the $21.00 support. It is near the 61.8% Fib retracement level of the upward move from the $18.75 swing low to the $24.77 high. On the upside, immediate resistance is near the $22.00 level and the trend line. Source: SOLUSD on TradingView.com The first major resistance is near the $22.50 level. A clear move above the $22.50 resistance might send the price toward the $23.50 resistance. The next key resistance is near $24.00. Any more gains might send the price toward the $25.00 level. More Losses in SOL? If SOL fails to recover above the $22.00 resistance, it could continue to move down. Initial support on the downside is near the $21.00 level. The first major support is near the $20.30 level. If there is a close below the $20.00 support, the price could decline toward the $20.00 support. In the stated case, there is a risk of more downsides toward the $18.80 support in the near term. Technical Indicators 4-Hours MACD \u2013 The MACD for SOL\/USD is gaining pace in the bearish zone. 4-Hours RSI (Relative Strength Index) \u2013 The RSI for SOL\/USD is below the 50 level. Major Support Levels \u2013 $21.00, and $20.30. Major Resistance Levels \u2013 $22.00, $22.50, and $24.00.<\/p>\n","protected":false},"author":67,"featured_media":555249,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[83626,89318,86410,83627],"class_list":["post-555247","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-solana","tag-solbtc","tag-solusd","tag-solusdt"],"acf":[],"yoast_head":"\nSOL Price Prediction: Will Correction Trend Push Solana Under $20?<\/title>\n<meta name=\"description\" content=\"Solana is correcting gains from the $25 resistance against the US Dollar. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. 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