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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.
