Solana Price Declines Over 20% as Key Support Levels Set
Solana Price Decline Overview
- SOL price decreased over 20% from the $180 zone, trading below $150.
- Current trading below $150 and the 100-hourly simple moving average.
- Break below bullish trend line support at $148 on hourly chart.
- Recent low formed at $132; consolidation with bearish angle observed.
- Facing resistance around $140, with major resistance near $144 and $156.
- If SOL fails to break above $148, further decline may occur.
- Initial support levels are $132 and $125; a drop below $125 could lead to $120 and potentially $102.
Technical Indicators
- Hourly MACD indicates strong bearish momentum.
- RSI is below the 50 level, indicating weak momentum.
