Solana has started a fresh decrease below the support zone worth USD 132. The SOL price is now consolidated and can fight to regain resistance of USD 126.
- The SOL price has started a recovery wave from the 122 USD support zone in relation to the American dollar.
- The price is currently listed below USD 130 and a 100-hour straightforward movable average.
- There is a key channel with a service of USD 124 on the Sol/USD hour chart (data source from Kraken).
- The couple can start a fresh growth if the bulls have cleaned the USD 126 zone.
Solan’s price is in the face of resistance
Solana Price began to deviate from USD 135 and USD 132, such as Bitcoin and Ethereum. Sol has fallen even below the level of support worth USD 125 before the appearance of bulls.
Low was created at USD 122.64, and the price has recently started the consolidation phase. There was a slight raise above USD 125. The price tested the level of extracting 23.6% down to the down from a swing worth $ 140 to the lowest level of USD 122.
Solana is now below USD 126 and a 100-hour straight movable average. There is also a key channel that has 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 126. The next main resistance is close to USD 128. The main resistance may be USD 132 or 50% of the downward FIB down level from $ 140 to the lowest level of USD 122.
A successful closure above the resistance zone of USD 132 can set a pace for another constant growth. The next key resistance is USD 136. Any profits can send a price to USD 142.
Another decrease in SOL?
If the SOL does not raise above the resistance of USD 128, it may start another decrease. Initial support in the minus is located near the USD 124 zone. The first solemn support is close to USD 122.
A break below USD 122 may send a price to the $ 115 zone. If there is a closure below below $ 115, the price may drop in the direction of USD 102 in the near future.
Technical indicators
MacD – MacD for SOL/USD loses the pace in the bear zone.
RSI hours (relative strength indicator) – RSI for SOL/USD is above level 50.
Main support levels – USD 124 and USD 122.
Main resistance levels – 128 and 132 USD.
