Solana’s Tough Climb: SOL Price Struggles to Find Solid Ground

Share This Post

Solana extended losses below the $150 support zone. SOL price is consolidating and might recover if it clears the $152.50 resistance zone.

  • SOL price declined further and even traded below $150 against the US Dollar.
  • The price is now trading below $160 and the 100-hourly simple moving average.
  • There is a connecting bearish trend line forming with resistance at $150 on the hourly chart of the SOL/USD pair (data source from Kraken).
  • The pair could clear the $152.50 resistance to start a short-term recovery wave.

Solana Price Eyes Recovery

Solana price remained in a short-term bearish zone like Bitcoin and Ethereum. SOL extended losses below the $160 support zone and is now consolidating losses. It is stuck below the $150 level.

There was a minor move above the 23.6% Fib retracement level of the downward move from the $163.25 swing high to the $145.03 low. Solana price is now trading below $155 and the 100-hourly simple moving average. Immediate resistance is near the $150 level.

There is also a connecting bearish trend line forming with resistance at $150 on the hourly chart of the SOL/USD pair. The next major resistance is near the $152.50 level. A successful close above the $152.50 resistance could set the pace for another major increase.

Solana Price

The next key resistance is near $157 or the 61.8% Fib retracement level of the downward move from the $163.25 swing high to the $145.03 low. Any more gains might send the price toward the $165 level.

More Losses in SOL?

If SOL fails to rally above the $152.50 resistance, it could start another decline. Initial support on the downside is near the $145 level.

The first major support is near the $142 level, below which the price could test $135. If there is a close below the $135 support, the price could decline toward the $120 support in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is losing pace in the bearish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level.

Major Support Levels – $145, and $142.

Major Resistance Levels – $152.50, $157, and $165.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Peter Schiff: Bitcoin Could Crash Below $65K if Nasdaq Enters a Bear Market

Bitcoin faces a steep decline if the Nasdaq downturn deepens, warns Peter Schiff, predicting a wave of panic selling that could shake investor confidence and destabilize markets Peter Schiff Predicts

SEC vs Ripple: How Lawsuit Over XRP Could Wrap up in Days

A legal expert has outlined how the SEC’s lawsuit against Ripple over XRP could end within days, but a major hurdle—navigating the court’s injunction—may complicate the

Is The Bitcoin Cycle Peak In? Historical Halving Data Suggests Upside Potential Into Late 2025

Bitcoin is now down over 29% from its all-time high (ATH) in January, and speculation about a coming bear market is growing among investors After weeks of heavy selling pressure, Bitcoin has entered

France central bank governor says Trump is “sowing the seeds of future upheavals” by supporting crypto

Francois Villeroy de Galhau, the governor of Banque de France and the European Central Bank Governing Council’s member, believes US president Donald Trump is making a huge mistake by supporting

640,000 Chainlink (LINK) Withdrawn From Exchanges In 24 Hours – Bullish Accumulation?

Chainlink (LINK) is currently trading below crucial resistance levels, which could trigger a strong rally if bulls manage to reclaim them However, volatility and uncertainty have dominated the market

To Sell or Not to Sell: Redditors Debate Bitcoin’s Million-Dollar Moment

A Reddit thread exploring whether bitcoin holders would sell at $1 million reveals a divided yet pragmatic community weighing financial goals, inflation risks, and long-term faith in the leading