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Solana Price Prediction: Is SOL Price Crashing Now?

 


The Solana price has now broken through the USD 30 mark in a bearish manner and could hit a yearly low - or possibly crash completely.


Solana Price Prediction: SOL bearishly rejected at 50-day EMA

“Solana price bounced off the support around $32 and then rose to the 50-day EMA around $34 where Solana got a bearish rejection. This leaves the golden ratio untouched at around USD 36. SOL price forms both higher lows and lower highs. Furthermore, the EMAs on the 4H chart are still in a bearish death cross, confirming the trend as bearish in the short-term.


In addition, the Solana course could not break out bullishly, but was instead rejected several times at the Golden Ratio resistances. On the upside, significant Fib resistance is already waiting at around USD 33.8, USD 36 and around USD 46. On the downside, significant support still awaits the SOL price between around USD 26 and USD 30.”


The Solana price has now broken the USD 30 mark, above which the SOL price has been able to hold for weeks. As a result, the Solana price could now fall around 12% to return to the year's low of around USD 26.


Also, the MACD histogram is ticking bearish lower and the MACD lines are crossed bearish, while the RSI is showing neither bullish nor bearish signals.


Additionally, the Death Cross remains intact on the 4H chart, confirming the trend bearishly in the short-term. Here, too, the histogram of the MACD is ticking bearishly lower and the MACD lines are bearishly crossed.


Solana only finds significant support between USD 18 and USD 26


Solana price chart from Tradingview

Also in the weekly chart, the histogram of the MACDs begins to tick bearishly lower this week. Solana thus only finds significant support between USD 18 and USD 26.


If Solana does not bounce at around USD 18 at the latest, Solana could fall to USD 5

Should this support break, there will only be significant support for the Solana price again at the USD 5 mark.


This means the ground is either very close or very far away. So Solana should now bounce off the support between USD 18 and USD 26 in order not to crash completely.


Against BTC, the SOL price will soon reach golden ratio support

Against BTC, Solana price got a bearish rejection at the 0.382 Fib level around 0.00184 BTC. With that, Solana is on the way to golden ratio support around 0.00148 BTC, where SOL could bounce.


Otherwise, significant support on the SOL course is only waiting between 0.00102 BTC and 0.0013 BTC. In addition, the histogram of the MACD is also ticking bearishly lower this week.

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