SOL Price (Solana) Close Below $50 Could Spark Larger Degree Correction
Solana rallied above the $65 resistance against the US Dollar. SOL price is now correcting gains and might even slide below the $50 support.
SOL price started a major rally above the $60 resistance before the bears appeared against the US Dollar.
The price is now trading below $60 and the 100 simple moving average (4 hours).
There was a break below a short-term rising channel with support near $58.00 on the 4-hour chart of the SOL/USD pair (data source from Kraken).
The pair could accelerate lower below the $55.00 support zone in the coming sessions.
