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Solana price falls to 186 USD - is Solana rising again now?



The Solana rate corrected to USD 186 and is currently above the USD 200 mark again. Will Solana return to its all-time high of $ 260?


Solana price also built bearish divergence in the RSI for weeks

In the Solana weekly chart, a bearish divergence in the RSI built up for weeks, which now dissolved before Solana reached the Fibonacci level at USD 278. In fact, the Solana price only rose to around USD 260. Subsequently, Solana initiated a correction last week. Basically, Solana could correct up to the golden ratio at around USD 170. At the latest at 110 USD and around 140 USD, Solana also finds massive support. The MACD and RSI leave open the possibility that the downward move will continue. After all, the histogram has been ticking lower for the past two weeks and the RSI is still in overbought regions.


Solana price bounces off the 50-day EMA and rises around 18%

But the MACD's histogram is already ticking higher in the daily rate and Solana seems to find support at just under USD 200 on the 50-day EMA. In the case of a bullish engulfing candle potentially being formed, Solana has a good chance of returning to his ATH at around USD 260.


Resistance in the 4H chart

However, Solana already encounters significant resistance at USD 220 and around USD 230. Otherwise, the MACD is also bullish in the 4H course and the EMAs are still crossed bullish.


Month candle is unaffected by the drop in price and remains bullish

In the monthly price, Solana is still bullish. Solana just needs to close above $ 202 this month for the candle to stay green. Although this is no guarantee that the upward trend will continue, it is still a good sign. The Solana correction could be over sooner than Bitcoin and other cryptocurrencies.


Solana price is rather bullish in the SOL / BTC chart

Against Bitcoin , Solana finds support at 0.0035, BTC, and 0.003 BTC. Otherwise massive support is waiting for the Solana course at 0.0017 BTC at the latest, because there the 50-week EMA crosses the golden ratio support. On the upside, the SOL course is waiting for the ATH at 0.0046 BTC resistance.


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