Solana started a fresh decrease from the USD 162 zone. The SOL price has dropped by over 15% and can fight for recovery above the resistance of USD 150.
- The SOL price started again a decrease below USD 162 and 150 in relation to the American dollar.
- The price is currently listed below USD 150, and a 100-hour elementary movable average.
- There is a connecting line of bears treated formed with resistance of USD 144 on the SOL/USD hour chart (data source from Kraken).
- The couple can start a up-to-date growth if the bulls have cleaned USD 150.
Solana’s price will drop sharply
Solana Price fought to tidy the resistance of USD 185 and began a fresh decline, worse Bitcoin and Ethereum results. Sol has fallen below the levels of support 162 and 150 USD.
He even dived below USD 135. The last lowest levels were created in the amount of USD 131, and the price consolidates losses at a bear angle. The tiny recovery wave was above 23.6% of the level of withdrawal of FIB down movement from a swing worth 173 USD to a low level of a swing worth $ 131.
Solana now trads below 145 USD and a 100-hour straight movable average. On the other hand, the price is in the face of resistance near the level of 144 USD. There is also a connecting bearing trend line formed with a resistance of USD 144 on the Sol/USD hour chart.
The next main resistance is close to USD 150. The main resistance can be USD 152, and 50% of the level of FIB downward pulling down from the height of a swing worth $ 173 to a swing worth $ 131.
A successful closure above the resistance zone of USD 152 can set a pace for another constant growth. The next key resistance is USD 160. Any profits can send a price to USD 165.
Another decrease in SOL?
If the SOL does not raise above 145 USD resistance, it may start another decrease. Initial support in the minus is located near the USD 141 zone. The first gigantic support is located near USD 136.
A break below USD 136 may send a price to the USD 131 zone. If there is a closure below the support of USD 125, the price may decline in support of USD 120 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 below level 50.
Main support levels – USD 136 and USD 131.
Main resistance levels – USD 145 and USD 152.
