💥 SOL Tumbles Toward Danger Zone — Will Buyers Step In?
From $180, Solana fell. SOL price is falling and may go below $160.
From the $180 US Dollar barrier zone, SOL price fell again.
The price is below $170 and the 100-hourly SMA.
On the hourly SOL/USD chart, a negative trend line connects to $170 barrier.
If it breaks $170 barrier, the pair may rise again.
Solana Price Falls More
Instead of rising beyond $180 like Bitcoin and Ethereum, Solana fell. SOL accelerated below $170 support.
Price dropped below $162. The price began recovering from a low of $160. Price rose over $165. It broke the 23.6% Fib retracement level of the latest drop from $180 swing high to $160 low.
Solana is below $170 and the 100-hour SMA. On the hourly SOL/USD chart, a negative trend line connects to resistance at $170.
The trend line and $169 level provide barriers on the upswing. It is around the 50% Fib retracement level of the latest slide from $180 swing high to $160 low. Near $172 is the next significant resistance.
$180 may be key barrier. Close over the $180 barrier zone might start another steady rise. The next hurdle is $185. Further rises might push the price beyond $200.
SOL Decline Again?
SOL may drop if it fails to break $170 resistance. Near $162 is first downside support. First big support is around $160.
A breach below $160 may push prices to $155. If the price closes below $155, it may fall to $142.
Tech Indicators
MACD hourly for SOL/USD is rising in the negative zone.
Hourly RSI – RSI for SOL/USD is below 50.
Major Support Levels: $162, $160.
Major Resistance: $170, $172.
