Solana Price Stabilizes Near $172 Support After Recent Gains

Solana (SOL) has initiated a price increase above $175 but is currently correcting gains. Key points include:

SOL rose past $160 and $165, trading around $175.
A short-term bullish flag is forming with support at $172 on the hourly chart.
Resistance levels are established at $178, $180, and $185.
Recent high reached $184.75 before correction began.

Current Price Dynamics

SOL formed a base above $155 and started increasing, similar to other major cryptocurrencies. Despite bulls being active above $172, a break below this level could lead to further declines.

Potential downward scenarios include:

Initial support at $172, followed by $170.
A drop below $170 may push SOL toward $162 and potentially $150.

Technical indicators show a weakening bullish momentum:

Hourly MACD is losing pace in the bullish zone.
RSI is below 50.