Solana Crashes Through $200: Is a Steeper Fall Inevitable? 🚀💸

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Well, well, well. Solana couldn’t hold onto its $200 for dear life. The price is now dancing below that magical number, and if it sinks below $192, we might be in for a deeper plunge.

  • Once upon a time, Solana tried to break free from $200, only to be caught in a downward spiral.
  • Now, it’s chilling below $198, hanging out with the 100-hourly simple moving average (which clearly isn’t impressed with the company).
  • And if you blinked, you missed it: the price broke below the bullish trend line at $198 on the hourly chart of the SOL/USD pair (Kraken’s data source, because of course).
  • If the price takes a dive beneath $192, things could get a lot uglier. 🎢

Solana’s “Great” Correction

So, Solana thought it was going to break the internet after it settled above $192, beating Bitcoin and Ethereum like they were last season’s trends. The price soared past $198, and everything seemed peachy.

But, spoiler alert: it couldn’t hold on to that sweet $200 resistance. It made it all the way to $205 before taking a nice, gentle fall. In fact, it dropped below the 23.6% Fibonacci retracement level from the $177 low to the $205 high – just to remind everyone that it’s not invincible. Ouch.

And, on top of that, the price shattered a bullish trend line at $198 on the hourly chart. Now it’s just hovering below $198 and that pesky 100-hourly simple moving average, which is just as uninterested as your last breakup text. 🥲

On the bright side (if you’re into that), there’s some resistance around the $198 mark. But, brace yourselves, the next big hurdle is $200. Anything above $205 and we might get another little uptick to $212, and who knows, maybe $220? But let’s not get too optimistic. 💸

Could Solana Sink Lower? Probably. 😬

Now, if Solana can’t muster the strength to break above the $200 resistance, we could be looking at another decline. First stop: the $192 zone, followed by the 50% Fib retracement level from $177 to $205. Because why not?

If things get really grim, support at $188 might just hold its ground – but, don’t hold your breath. A breach below $188 and the next stop could be $180. If we fall further, $166 might be our new temporary home. 🏚️

Technical Indicators:

Hourly MACD – It’s picking up steam in the bearish zone. Fun times!

Hourly RSI (Relative Strength Index) – Below 50, because why not?

Major Support Levels – $192 and $188. Not looking too solid, if you ask me.

Major Resistance Levels – $200 and $205. Basically the “do not pass” zone.

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2025-10-29 08:25