Solana started a new decline and restored the $ 145 support zone. Sol Price is now recovering and can strive for a new increase above $ 150 zone.
- Sol Price started a new decline after it was unable to erase $ 160 against the US dollar.
- The price is now traded under $ 150 and the 100-hour simple advancing average.
- There was a break over an important bearish trend line with resistance at $ 147 on the hour table of the SOL/USD pair (Data Source of Kraken).
- The couple can start a new increase if it knew the $ 152 resistance zone.
Solana -Price finishes profit
Solana Price had difficulty staying higher above $ 160 and started a new decrease, such as Bitcoin and Ethereum. Sol fell under the support levels of $ 155 and $ 152.
It even fell below $ 150 and tested the $ 145 zone. A layer was formed at $ 144 and the price now corrects some losses. There was a movement above the 23.6% FIB retracement level of the downward movement of the $ 160 swing high to $ 144 low.
Moreover, there was a break above an important bearish trend line with resistance at $ 147 on the hour table of the SOL/USD pair. Solana now acts under $ 150 and the 100-hour simple advancing average.
At the top the price is confronted with resistance near the level of $ 150. The next major resistance is near the $ 152 level. It is close to the 50% FIB retraction level of the downward movement of the $ 160 Swing high to the $ 144 low. The most important resistance can be $ 155. A successful closure above the $ 155 resistance zone could determine the pace for a new steady increase. The next key resistance is $ 160. More profits can send the price to the $ 165 level.
Another decline in Sol?
If Sol does not exceed $ 150 resistance, this can start a new decline. The first support on the other hand is near the $ 145 zone. The first major support is near the level of $ 142.
A break below the level of $ 142 can send the price to the $ 136 zone. If there is an end under the support of $ 136, the price can fall to the $ 125 support in the short term.
Technical indicators
Hourly MacD – The MACD for SOL/USD loses pace in the bearish zone.
Hours -hours RSI (relative strength -index) -The RSI for SOL/USD is above 50 level.
Important support levels – $ 145 and $ 142.
Important resistance levels – $ 152 and $ 155.