Solana started a new decrease in the $ 172 zone. Sol Price is now lower and can fall further below the level of $ 155.
- Sol Price started a new fall in the $ 172 resistance zone against the US dollar.
- The price is now traded under $ 162 and the 100-hour simple advancing average.
- There is an important bearish trend line that forms with resistance at $ 160 on the hour table of the SOL/USD pair (data source of Kraken).
- The couple could start a new increase if it knew the $ 160 resistance zone.
Solana -Price is falling again
Solana Price failed to stay higher above the level of $ 172 and started a new decrease, such as Bitcoin and Ethereum. Sol got pace and traded under the support level of $ 160.
The price was even traded below $ 155. A low point was formed near $ 150 and the price recently started a recovery wave. There was a movement above the $ 155 level. It surpassed the 23.6% FIB retracement level of the recent decrease of the $ 180 swing high to $ 150 low.
Solana now acts under $ 160 and the 100-hour simple advancing average. There is also an important bearish trend line that forms with resistance at $ 160 on the hour table of the SOL/USD pair.
At the top the price is confronted with resistance near the level of $ 160 and the trend line. The next major resistance is close to the $ 165 level. It is close to the 50% FIB retracement level of the recent decrease of the $ 180 swing high to the $ 150 -depth point.
The most important resistance can be $ 170. A successful closure above the $ 170 resistance zone could determine the pace for a new steady increase. The next key resistance is $ 172. More profits can send the price to the $ 180 level.
Another decline in Sol?
If Sol does not exceed $ 160 resistance, this can start a new decline. The first support on the other hand is near the $ 155 zone. The first major support is near the level of $ 152.
A break below the $ 152 level can send the price to the $ 145 zone. If there is an end under the support of $ 145, the price can fall to $ 132 support in the short term.
Technical indicators
Hourly MacD – The MACD for SOL/USD wins pace in the bearish zone.
Hours -hours RSI (relative strength -index) -The RSI for SOL/USD is below the 50 level.
Important support levels – $ 155 and $ 152.
Important resistance levels – $ 160 and $ 162.