Solana Price Dips Below $125, Faces Resistance at $130

Solana (SOL) is experiencing a downside correction, failing to maintain levels above $126.

  • SOL price dropped below $125, currently trading under this level and the 100-hour simple moving average.
  • A bearish trend line presents resistance at $124 on the hourly SOL/USD chart.
  • The price might extend its decline if it falls below the $120 support zone.
  • Bulls are active near $122, with major resistance levels at $125, $128, and potentially $130.
  • Breaking above $130 could lead to further gains towards $135 and $142.

Potential for Further Decline

If SOL cannot surpass the $125 resistance:

  • Initial support is expected around $122, with significant support at $120.
  • A drop below $120 may push the price down to $112 and possibly $105.

Technical Indicators:

  • Hourly MACD: Bearish momentum increasing.
  • Hourly RSI: Below the neutral 50 mark.
  • Key Support Levels: $122 and $120.
  • Key Resistance Levels: $125 and $128.

Solana Price