Solana has begun a new reduction in the $ 162 district. SOL Price has fallen more than 15% and may have difficulty recovering more than $ 150 resistance.
- SOL Price has begun a new reduction of $ 162 or less than the $ 162 for the US dollar.
- The price is now less than $ 150 and is trading more than a simple moving average of 100 hours.
- There is a connecting bearish trend line formed by a $ 144 resistance in the hourly chart of the SOL/USD pair (data source of KRAKEN).
- If the bull removes the $ 150 zone, the pair can begin a new increase.
Solana prices drop sharply
Solana Price struggled to organize $ 185 resistance and began a new reduction in poor earnings with Bitcoin and Ethereum. SOL has decreased below the level of support of $ 162 and $ 150.
It even trimmed below $ 135. Recently, the minimum is formed at $ 131, and the price is currently weakened. After 23.6% FIB of downward movement, there was a small recovery from $ 173 swing height to $ 131 swing.
SOLANA is currently trading less than $ 145 and simple moving average of 100 hours. Conversely, the price is faced with a resistance near $ 144. There is also a connecting bearish trend line that is formed of $ 144 resistance in the time chart of the SOL/USD pair.
The next major resistance is close to $ 150. The main resistance can be $ 152, and after 50%of FIB, the level is lowered from $ 173 to $ 131 swing low.
If you succeed above the $ 152 resistance area, you can set another speed for another steady increase. The next key resistance is $ 160. No more profit can spend the price to $ 165.
Another reduction in sol?
Another reduction may begin if the sol is not higher than $ 145 resistance. The initial support of the shortcomings is near the $ 141 district. The first main support is close to $ 136.
Rest of less than $ 136 can be sent to $ 131. If there is a place closer than the $ 125 support, the price can fall in the short term with $ 120 support.
Technical indicator
MACD -SOL/USD MACD is losing speed in Bearish Zone.
Hour time RSI (relative strength index) -RSI of SOL/USD is less than 50 levels.
Major support levels -$ 136 and $ 131.
Main resistance level -$ 145 and $ 152.