🚨 Support Cracks: Solana Breaks Below $185 as Bears Tighten Their Grip
SOL tumbles from $210 and is now showing signs of further weakness. If momentum continues, a drop below $172 could be next.
🔻 Key Developments:
• SOL failed to break above the $210 resistance and has since declined.
• Price is now trading below $185 and the 100-hourly SMA.
• A descending trend line is forming resistance near $188 on the hourly SOL/USD chart.
📉 Bearish Pressure Builds
After struggling to stay above $200, SOL broke through support levels at $188 and $185, entering a short-term bearish zone. The price also dropped below the 50% Fibonacci retracement of the $173–$209 move.
Currently, SOL sits beneath:
• The 76.4% Fib retracement of the $173 swing low to $209 high.
• The key $185 level and the 100-hour SMA.
🔼 Recovery Possible?
• Immediate resistance lies at $182, followed by $184.
• A breakout above $188 could trigger a steady upward move toward $192, with potential for a return to $200+.
🔽 More Downside Ahead?
If SOL fails to reclaim $182, expect further drops:
• First support: $175
• Key support: $172
• Break below $172 could see SOL drop to $162.
• A daily close below $162 may open doors to sub-$150 levels.
📊 Technical Indicators:
• MACD: Gaining momentum in the bearish zone.
• RSI (Hourly): Below 50, indicating weak momentum.
🔧 Key Levels to Watch:
• Support: $172, $162
• Resistance: $182, $188
