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Solana price drops to 100 USD - how likely is that?



The Solana price remains bullish and is still above the Fibonacci support at around USD 160. Will the SOL price ever return to USD 100?


Solana price struggles with 0.382 Fib resistance at around USD 190

The Solana price is currently struggling with the 0.382 Fib resistance at around USD 190, which also causes the 50-day EMA to run. So far Solana has met with rejection there, however Solana has successfully held above the 0.382 Fib support at around USD 160 for the past few days. Slightly lower, at around USD 135, Solana finds additional support at the 200-day EMA. The MACD is currently bullish: the MACD lines are just before a bullish crossover and the histogram is ticking bullishly higher. Should Solana overcome the resistance at around USD 190, the SOL price could rise to around USD 220, which is where the crucial golden ratio resistance lies. If this is broken, the correction phase is over and Solana could rise to the ATH at around USD 260, or even exceed it.


In the 4H chart, the Death Cross is intact

However, the Death Cross is still intact on the 4H chart, which confirms the trend bearishly in the short to medium term. However, Solana is currently finding support at the 50-4H EMA and the 200-4H EMA crosses the Fib resistance at around USD 190, which means that the gap between the EMAs is quite small. This means that the Death Cross could be negated in the wake of a bullish breakout. In the 4H chart, however, the MACD is more bearish, where the histogram is ticking bearishly lower.


Solana price could fall to around USD 100 without becoming bearish

Should the SOL course break through the support at around USD 160, Solana will find the next significant support at around USD 100. This is where the greatest golden ratio support and also the 50-week EMA is located. Solana could correct to $ 100 without getting into a bearish trend. Finally, a decline in golden ratio support is within the framework of a healthy correction. In the weekly rate, the MACD is also bearish: there the MACD lines are crossed in a bearish manner and the histogram is ticking bearishly lower. If Solana falls below $ 160, Solana could return to the $ 100 mark quite quickly. On the other hand, if Solana breaks the resistance at USD 190, it could go up again very soon.


Around 93% leeway to the next low point

In contrast to a healthy correction, there is a drop of around 93%, which would bring Solana back to the USD 20 mark. There is the last low point in the monthly rate. Solana is very unlikely to fall that low. It is remarkable how far back it was from the last low point and underscores Solana's massive uptrend.


Solana course finds two important Fibonacci supports

Against BTC, Solana has so far not been able to exceed the price level of 0.0046 BTC. Should Solana continue to fall, he will find significant Fibonacci supports at around 0.0029 BTC and 0.0018 BTC. The 50-week EMA also runs through the golden ratio, which also serves as a support. Against BTC, however, the MACD is bearish here too. Solana could therefore revert to the 0.382 Fib support.

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