Support broken: Solana fell below $185, aggressive bears smell blood.
From $210, Solana has fallen. The price of SOL is dropping and may go below $172.
After failing to break $210 against the US dollar, the price of SOL has dropped again.
Price below $185 and 100-hour SMA.
On the hourly chart SOL/USD, a negative trendline connects the barrier at $188.
The pair may rise again if it breaks the resistance at $188.
Solana prices are dropping again.
Bitcoin and Ethereum fell as Solana failed to break $210. SOL dropped below $200 and the support at $188, entering a short-term bearish zone.
Bears pushed the price below the 50% Fibonacci retracement level from the low of $173 to the high of $209. On the hourly chart SOL/USD, a negative trendline connects the barrier at $188.
Solana below $185 and 100-hour SMA. It is also below the 76.4% Fibonacci retracement level from the low of $173 to the high of $209.
The price faces ascending resistance at $182. The next significant resistance is near $184. Resistance at $188 may be key. A close above the barrier zone at $188 could start another sustainable rise. The next obstacle is $192. Further increases could push the price above $200.
More losses for SOL?
SOL could fall if it fails to break $182. The first support is near $175. The first major support is near $172.
A break below $172 could push the price to the support zone at $162. If the stock closes below $162, it may fall below $150.
Technical indicators
MACD for SOL/USD is rising in the negative zone.
Hourly RSI – RSI for SOL/USD is below 50.
Key support levels: $172, $162.
Key resistance: $182, $188.
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