Solana Price Declines Below $145 Amid Resistance Challenges
Solana (SOL) Price Update
- SOL price declined below $165 and $150 against the US Dollar.
- Currently trading below $150 and the 100-hour simple moving average.
- Break below a rising channel with support at $144 observed on the hourly chart.
- Potential for an increase if price clears the $155 zone.
Market Behavior
- Failed to clear $180 resistance, leading to a drop below $162 and $150 support levels.
- Recent low reached $132, followed by recovery above $140 and $142.
- Resistance noted near $145, with major resistance at $148 and $155.
Outlook
- A close above $155 could lead to further increases, with the next target at $162.
- If unable to rise past $148, potential decline towards $136 and $132 is likely.
- Break below $132 may push price toward $125 and then $120.
Technical Indicators
- Hourly MACD indicates bearish momentum.
- RSI is below the 50 level.