Solana Price Declines After Failing to Break $155 Resistance

Solana (SOL) Market Update

SOL price is correcting after failing to surpass the $155 resistance level.
Current trading price is around $152, near the 100-hourly simple moving average.
A bullish trend line is forming with support at $151.
For a fresh increase, SOL needs to clear the $156 resistance zone.

Price Movement Analysis

SOL initially rose above $150, entering a positive zone. However, it faced resistance at $156 and is now declining. Key levels include:

Resistance: $155, $156, and $160.
Support: $150 and $146.

A close above $160 could lead to further gains towards $162 and $165. Conversely, if SOL cannot break above $155, it may decline towards $146 and potentially $142 or $136.

Technical Indicators

MACD for SOL/USD shows weakening momentum in the bullish zone.
RSI is below the 50 level, indicating weaker buying pressure.