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Major Support Levels in Focus as Solana (SOL) Falls 20%
From $180, Solana fell. Over 20% down, SOL may struggle to rebound above $150.
Below $162 and $150 versus the US Dollar, SOL price fell again.
The price is below $150 and the 100-hourly SMA.
On the hourly SOL/USD chart, a bullish trend line with support at $148 broke.
If bulls break $150, the pair may rise again.
Solana Price Falls Hard
Solana, like Bitcoin and Ethereum, battled to break $180 and fell. SOL fell below $165 and $155.
It fell below $150. On the hourly SOL/USD chart, a bullish trend line with support at $148 broke. Bearish consolidation has occurred since the latest low at $132.
Solana is below $140 and the 100-hour SMA. The stock faces upward resistance at $140. The next big obstacle is $144, the 23.6% Fib retracement level of the decline from the $180 swing high to the $132 swing low.
$156 and the 50% Fib retracement level of the decline from the $180 swing high to the $132 swing low may represent resistance. Close above $156 barrier might start another steady rise. The next hurdle is $165. More advances might push the price toward $180.
More SOL losses?
SOL might tumble again if it fails to break $148 barrier. Initial downside support is $132. First big support is around $125.
A break below $125 might push the price near $120. A closing below $120 might push the price around $102 in the immediate future.
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: $132, $125.
Key Resistance Levels: $148, $156.
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