Solana (SOL) Tests Support After Dip — Bounce or Breakdown Ahead? 📉
Solana's price has recently experienced a downturn, starting from the $160 mark. Currently trading below $155 and the 100-hourly simple moving average, there is a possibility of further decline if it fails to rise above the $152 resistance zone.
Breaking below the $150 support level, the price dropped to around $145, and consolidation is now observed. Resistance is anticipated near $150, and a successful rise above $155 might stimulate a steady increase toward $165. However, a decline may occur if the price fails to surpass the $152 resistance.
The technical indicators show that the hourly MACD is in the bearish zone, and the RSI is below the 50 level, suggesting potential continued bearish momentum for SOL.
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