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Solana (SOL) Dips Into the Red – Healthy Correction or Trend Reversal?

February 18, 2025
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Solana began a contemporary decline from the $200 zone. SOL value is down over 10% and would possibly even wrestle to remain above the $175 assist zone.

SOL value began a contemporary decline under the $200 and $185 ranges towards the US Greenback.
The value is now buying and selling under $185 and the 100-hourly easy shifting common.
There’s a connecting bearish pattern line forming with resistance at $182 on the hourly chart of the SOL/USD pair (information supply from Kraken).
The pair may begin a contemporary enhance if the bulls clear the $185 zone.

Solana Value Dips Additional

Solana value struggled to clear the $205 resistance and began a contemporary decline, underperforming Bitcoin and Ethereum. SOL declined under the $200 and $192 assist ranges.

It even dived under the $185 degree. The latest low was shaped at $174 and the value is now consolidating losses with a bearish angle under the 23.6% Fib retracement degree of the downward transfer from the $205 swing excessive to the $174 swing low.

Solana is now buying and selling under $185 and the 100-hourly easy shifting common. On the upside, the value is dealing with resistance close to the $182 degree. There’s additionally a connecting bearish pattern line forming with resistance at $182 on the hourly chart of the SOL/USD pair.

The following main resistance is close to the $185 degree. The principle resistance might be $190 and the 50% Fib retracement degree of the downward transfer from the $205 swing excessive to the $174 swing low.

A profitable shut above the $190 resistance zone may set the tempo for an additional regular enhance. The following key resistance is $198. Any extra features would possibly ship the value towards the $205 degree.

One other Decline in SOL?

If SOL fails to rise above the $185 resistance, it may begin one other decline. Preliminary assist on the draw back is close to the $174 zone. The primary main assist is close to the $170 degree.

A break under the $170 degree would possibly ship the value towards the $165 zone. If there’s a shut under the $165 assist, the value may decline towards the $150 assist within the close to time period.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is gaining tempo within the bearish zone.

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

Main Help Ranges – $174 and $170.

Main Resistance Ranges – $182 and $185.



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Tags: CorrectionDipsHealthyRedReversalSOLSolanatrend
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