Solana began a new decrease from $ 162. The Sol price has decreased more than 15 % and may struggle to recover over the resistance of $ 150.
- Sol PRICE has started a new decrease less than $ 162 and $ 150 against the US dollar.
- The price is now trading less than $ 150 and the simple moving average for 100 hours.
- There is a declining directional line connected to a resistance at $ 144 on the watch chart for the Sol/USD (data source from Kraken).
- The pair can start with a new increase if the bulls wipe the $ 150 region.
Solana’s price decreased sharply
Solana Price struggled to clarify the resistance of $ 185 and began a new decline, as Bitcoin and ETHEREUM performance was. Sol decreased to less than the support levels of 162 and 150 dollars.
It even decreased less than the level of $ 135. The last bottom has been formed at $ 131, and the price is now enhancing the losses at a declining angle. There was a simple recovery wave higher than the FIB re -declining level by 23.6 % of the $ 173 rhythm move to the swing level of $ 131.
Solana is now trading less than $ 145 and a simple moving average for 100 hours. In the upward direction, the price faces resistance near the level of $ 144. There is also a declining trend line that is formed with resistance at $ 144 on the watch chart for the Sol/USD pair.
The next main resistance approaches the level of $ 150. The main resistance can be $ 152 and the REERREMENT level 50 % of FIB for a declining move from a rise of $ 173 to a height of $ 131.
A successful closure over the resistance area of $ 152 can determine another fixed increase. The next main resistance is $ 160. Any other gains may send the price to the level of $ 165.
Another decrease in Seoul?
If Sol fails to rise over $ 145 resistance, another decrease may start. Initial support on the downside is near the $ 141 area. The first main support is near the level of $ 136.
It may send a break lower than 136 dollars the price towards a $ 131 region. If there is an approach to the support of $ 125, the price may decrease to the support of $ 120 in the short term.
Technical indicators
Every MACD – MACD for Sol/USD lose a pace in the landfill.
RSI Hour Watches (Relative Power Index) – RSI for SOL/USD less than 50 level.
Main support levels – $ 136 and $ 131.
Main resistance levels – $ 145 and 152 dollars.
