📉 SOL Struggles Mount — Are Bears Gaining the Upper Hand?
From $188, Solana fell. SOL price is falling and may go below $170.
From the $188 US Dollar barrier zone, SOL price fell again.
The price is below $180 and the 100-hourly SMA.
On the hourly SOL/USD chart, a negative trend line connects to $176 barrier.
The pair might rise again if it breaks $180 resistance.
Again, Solana Prices Fall
Like Bitcoin and Ethereum, Solana pricing created a base over $170 and increased. SOL accelerated past $172 and $175 resistance.
Before falling below $170, the price tested $188 resistance. The price lately tried to rise from $170, its low. Price topped $172. It broke the 23.6% Fib retracement level of the latest drop from $188 swing high to $170 low.
Solana is below $180 and the 100-hour SMA. On the hourly SOL/USD chart, a negative trend line connects to $176 barrier.
The stock faces upward resistance at $176. Near $180 is the next significant resistance. $185 may be key resistance. Close above the $185 resistance zone might start another steady rise. The next hurdle is $192. Further rises might push the price beyond $200.
SOL Decline Again?
SOL might tumble again if it fails to break $176 barrier. Near $172 is first downside support. First big support is around $170.
A breach below $170 might push pricing below $165 and the trend line. If the price closes below $165, it may fall toward $160.
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: $172, $170.
Key Resistance Levels: $176, $180.
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Update on my Kaito Genesis NFT trade:
Purchase price: $2700 (called it in my Article)
Floor price now: $8000
In addition, I received 7400 $SOPH (trading tomorrow), $250 in $BOOP, and several promising airdrops ahead.
Depending on how Sophon performs tomorrow, I can assess the profitability of my venture.
Overall, everything has played out as I planned. I have no intention of selling the NFT soon, as I believe it is still significantly undervalued.
This is a very good entry into Kaito Eco, though it would be beneficial if projects remembered the NFT aspect. Sometimes they only distribute rewards for sKAITO, which I consider a mistake.
By the way, I plan to convert each airdrop I get into $KAITO since I think the price is still reasonable.
See you!
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