Solana has started a recovery wave above the resistance zone worth USD 120. The SOL price is now consolidated and can fight to recover above resistance in the amount of USD 132.

• The SOL price started again a decrease below USD 150 and 140 in relation to the American dollar.
• The price is currently listed below USD 130 and a 100-hour elementary movable average.
• There is a miniature -term channel growing with support in the amount of USD 124 on the Sol/USD hour chart (data source from Kraken).
• The couple can start a modern growth if the bulls have cleaned the USD 132 zone.

Solan’s price is in the face of resistance

Solana Price fought to spotless the resistance of USD 155 and began a fresh decrease, such as Bitcoin and Ethereum. Sol has fallen below levels of $ 140 and USD 132.

He even dived below USD 120. The last lowest levels were created in the amount of USD 114 before the price regained some losses. Increased above levels 120 and 122 USD. The price exceeded 23.6% slimming levels of the FIB of inheritance movement from a height of USD 151 to a low level of a swing worth $ 114.

Solana is now trading below USD 130 and a 100-hour straight movable average. There is also a miniature -term growth of the channel with support of USD 124 on the Sol/USD hour chart.

On the other hand, the price is in the face of resistance near the level of USD 128. Another high resistance is close to USD 130. The main resistance can be USD 132, and 50% of the FIB withdrawal level down movement from a height of USD 151 to a low level of 114 USD swing.

A successful closure above the resistance zone of USD 132 can set a pace for another constant growth. The next key resistance is 140 USD. Any profits can send a price to USD 150.

Another decrease in SOL?

If the SOL does not escalate above the resistance of USD 132, it may start another decrease. Initial support in the minus is located near the USD 124 zone. The first earnest support is close to USD 120.

A break below USD 120 may send a price to the $ 114 zone. If below 114 USD support is similar, the price may drop in relation to support of $ 100 in the near future.

Technical indicators

MacD – MacD for SOL/USD loses the pace in the stubborn zone.

RSI hours (relative strength indicator) – RSI for SOL/USD is close to level 50.

Main support levels – USD 124 and 120 USD.

Main resistance levels – 128 and 132 USD.