Sep 16, 2025
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Solana Price Falls Below $240, Faces Key Resistance Levels
Solana Price Movement
- Solana (SOL) experienced an increase above $232 and $240 against the US Dollar but is now correcting below $240.
- The price broke below a bullish trend line at $242 on the hourly SOL/USD chart, now trading under the 100-hourly simple moving average.
- If SOL dips below $230, further losses may occur.
Current Support and Resistance Levels
- Resistance: The price faces resistance around $238, with major resistance at $240 and $245. A successful close above $245 could lead to further gains towards $255 and potentially $262.
- Support: Initial support is near $232, with significant support at $230. A break below $230 could push the price towards $224 and even $220.
Technical Indicators
- Hourly MACD: Declining momentum in the bullish zone for SOL/USD.
- Hourly RSI: Below the 50 level, indicating potential bearish momentum.
