CandleFocus Solana Slips Below $169: Will $158 Support Hold?
2024-11-01
Author: Content Editor
Solana (SOL) has experienced a decline in price due to the overall drop in the cryptocurrency market. It has seen a 5.05% drop in the past 24 hours, with its market cap falling below $78 billion. Solana's decline has extended for three consecutive days, and it is now heading towards the 50% Fibonacci level at $159.54. The MACD and signal lines are showing a bearish crossover, but the simple moving averages remain positive. On the four-hour chart, Solana has broken below a long-standing support trend line and could potentially reach the 200 EMA at $156.62. However, there are support zones at $158 and $150. If Solana stages a comeback from the 50% Fibonacci level, potential price targets could be $169.49 and $188.65 in the short term.
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