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Solana (SOL) Below $150 Again, Exposing Price to Additional Bearish Swings

Solana began a recent decline under the $150 zone. SOL worth is now consolidating losses under $150 and may decline additional under $142.

  • SOL worth began a recent decline under $155 and $150 towards the US Dollar.
  • The worth is now buying and selling under $150 and the 100-hourly easy transferring common.
  • There is a key bearish development line forming with resistance at $148 on the hourly chart of the SOL/USD pair (information supply from Kraken).
  • The worth might begin a restoration wave if the bulls defend $142 or $140.

Solana Price Dips Again

Solana worth failed to stay secure above $162 and began a recent decline, like Bitcoin and Ethereum. SOL declined under the $155 and $150 help ranges.

The worth gained bearish momentum under $150. A low was fashioned at $141, and the worth is now consolidating losses. The worth recovered a number of factors however remained under the 23.6% Fib retracement stage of the downward transfer from the $172 swing high to the $141 low.

Solana is now buying and selling under $150 and the 100-hourly easy transferring common. On the upside, rapid resistance is close to the $148 stage. There can also be a key bearish development line forming with resistance at $148 on the hourly chart of the SOL/USD pair.

The subsequent main resistance is close to the $152 stage. The fundamental resistance could possibly be $160 and the 61.8% Fib retracement stage of the downward transfer from the $172 swing high to the $141 low. A profitable shut above the $160 resistance zone might set the tempo for an additional regular enhance. The subsequent key resistance is $172. Any extra good points may ship the worth towards the $180 stage.

Another Decline In SOL?

If SOL fails to rise above the $152 resistance, it might proceed to transfer down. Initial help on the draw back is close to the $142 zone. The first main help is close to the $140 stage.

A break under the $140 stage may ship the worth towards the $132 help zone. If there’s a shut under the $132 help, the worth might decline towards the $120 help 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 Strength Index) – The RSI for SOL/USD is under the 50 stage.

Major Support Levels – $142 and $140.

Major Resistance Levels – $148 and $152.

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