Solana started a recovery wave over the resistance area of $ 120. The Sol price is now unified and may fight to recover over $ 132 resistance.
- Sol PRICE has started a new decrease less than $ 150 and $ 140 for the US dollar.
- The price is now trading to less than $ 130 and the simple moving average for 100 hours.
- There is a short -term emerging channel formed with support at $ 124 on the watch chart for the Sol/USD (data source from Kraken).
- The husband can start with a new increase if the bulls wipe a $ 132 region.
Solana Price faces resistance
Solana Price struggled to wipe the $ 155 resistance and began to decline, such as Bitcoin and Ethereum. Sol decreased lower than support levels $ 140 and $ 132.
It even decreased below $ 120. The last bottom was formed at 114 dollars before the price recovered some losses. It rose over the levels of $ 120 and 122 dollars. The price has exceeded 23.6 % of the declining move from the swing of $ 151 to the level of the tower of $ 114.
Solana is now trading less than $ 130 and a simple moving average for 100 hours. There is also a short -term rising channel formed with support at $ 124 on the watch chart for the Sol/USD.
In the upward direction, the price faces resistance near the level of $ 128. The next main resistance is near the level of $ 130. The main resistance can be $ 132 and the REERRERMENT level by 50 % of the declining move from the 151 dollar hawk to a $ 114 swing decrease.
A successful closure over the resistance area can determine $ 132 another fixed increase. The next main resistance is $ 140. Any other gains may send the price towards the level of $ 150.
Another decrease in Seoul?
If Sol fails to rise over $ 132 resistance, another decrease may start. Initial support on the downside is near the $ 124 area. The first main support is near the level of $ 120.
A lower break than $ 120 level may send the price to $ 114. If there is an approach to the support of $ 114, the price may decrease towards $ 100 in the short term.
Technical indicators
Every MACD – Macd for Sol/USD lose a pace in the upscale area.
RSI Hour Watches (Relative Power Index) – RSI for Sol/USD near the 50 level.
Main support levels – $ 124 and $ 120.
Main resistance levels – $ 128 and $ 132.
