Solana started a new decline below $ 165 zone. Sol Price is now consolidating losses and may have trouble recovering over the $ 145 resistance.
- Sol Price started a new decrease below $ 165 and $ 150 levels against the US dollar.
- The price is now traded under $ 150 and the 100-hour simple advancing average.
- There was a break under a short-term rising channel with support at $ 144 on the hour table of the SOL/USD pair (Data Source of Kraken).
- The couple can start a new increase if the bulls erase the $ 155 zone.
Solana Price stands for obstacles
Solana Price struggled to erase the $ 180 resistance and started a new decrease, such as Bitcoin and Ethereum. Sol fell under the support levels of $ 162 and $ 150.
It even went below the level of $ 140. The recent low point was formed at $ 132 before the price recovered some losses. It climbed above the levels of $ 140 and $ 142. The price surpassed the 23.6% FIB retracement level of the downward movement of the $ 180 Swing high to $ 132 Swing low.
De Beren, however, were active near $ 152 and pushed the price lower. There was a break under a short-term rising channel with support at $ 144 on the hour table of the SOL/USD pair.
Solana now acts under $ 145 and the 100-hour simple advancing average. Moreover, the price is confronted with resistance near the level of $ 145. The next major resistance is near the $ 148 level. The most important resistance can be $ 155 and the FIB retracement level of 50% of the downward movement of the $ 180 Swing high to $ 132 Swing low.
A successful closure above the $ 155 resistance zone could determine the pace for a new steady increase. The next key resistance is $ 162. More profits can send the price to the $ 175 level.
More losses in Sol?
If Sol does not exceed $ 148 resistance, this can start a new decline. The first support on the other hand is near the $ 136 zone. The first major support is close to the $ 132 level.
A break below the $ 132 level can send the price to the $ 125 zone. If there is an end under the support of $ 125, the price can fall to $ 120 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 below the 50 level.
Important support levels – $ 136 and $ 132.
Important resistance levels – $ 148 and $ 155.