Solana (SOL) Risks More Losses
From $155, Solana fell. SOL price is stabilizing at $145 and may go below $142.
Below $150 and $148 versus the US Dollar, SOL price fell again.
The price is below $150 and the 100-hourly SMA.
However, bears operated below $155 resistance. At $153.90, the price peaked and fell. The price fell below $150 and $148. Price is consolidating losses after a $142.64 low.
A modest rise over the 23.6% Fib retracement level of the fall from $153.90 swing high to $142.64 low occurred. Solana is below $150 and the 100-hour SMA. The hourly SOL/USD chart shows a short-term rising channel or continuation pattern with support at $144.
The stock faces upward resistance at $147. The next big obstacle is $150, the 61.8% Fib retracement level of the decline from $153.90 swing high to $142.64 low. The major obstacle may be $155. Close above $155 barrier might start another steady rise. The next hurdle is $165. More advances might push the price toward $180.
More SOL losses?
SOL may tumble again if it fails to break $150 barrier. Initially, downside support is approaching $145. Near $142 is the first big support.
A breach below $142 might push prices below $135. If the price closes below $135, it may fall to $122.
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: $145, $142.
Key Resistance Levels: $147, $150.
ENTRY at 146-148
STOP loss 160
PROFIT book 135-138
