Solana Price Declines Below $130, Eyes Further Drop Below $125

Solana (SOL) is experiencing a decline, moving below key support levels.

SOL price dropped below $135 and $130 against the US Dollar.
Currently trading under $130, it is also below the 100-hourly simple moving average.
A bearish trend line with resistance at $136 forms on the hourly chart.
Bulls need to defend $125 or $120 to prevent further decline.

Recent Price Movements

After failing to maintain stability above $140, SOL declined past $135 and $132. The low was marked at $123, and the price is now consolidating losses. Resistance stands at $128 and $130, with a significant barrier at $134.

Solana Price

If SOL breaks $136, it could see an increase towards $140 and potentially $145. However, failure to surpass $130 might lead to further decline, with initial support at $125 and major support at $122. A drop below $122 could push the price toward $120 or even $112.

Technical Indicators

Hourly MACD: Gaining pace in the bearish zone.
Hourly RSI: Below the 50 level.
Key Support Levels: $125 and $122.
Key Resistance Levels: $130 and $136.