$SOL

🚨Solana Price Dips Further🚨

Solana price failed to continue higher above the $160 level and started a fresh decline, like Bitcoin and Ethereum. SOL gained pace and traded below the $155 support level.

There was a break below a bullish trend line with support at $150 on the hourly chart of the SOL/USD pair. The pair even traded below the $148 level. A low was formed near $145 and the price recently started a consolidation phase. It tested the 23.6% Fib retracement level of the recent decline from the $158 swing high to the $145 low.

Solana is now trading below $150 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $150 level. The next major resistance is near the $152 level. It is close to the 50% Fib retracement level of the recent decline from the $158 swing high to the $145 low.

The main resistance could be $155. A successful close above the $155 resistance zone could set the pace for another steady increase. The next key resistance is $160. Any more gains might send the price toward the $165 level.

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