CandleFocus Solana (SOL) Falls Under $200: Temporary Setback or Trend Shift?
2025-01-08
Author: Content Editor
Solana's price failed to break through the $225 resistance level and has now declined below $200. The price is currently showing bearish signs and is consolidating losses. It is trading below the 100-hourly simple moving average and there is a bearish trend line forming with resistance at $204. The next major resistance levels are $210 and $213, and a successful close above $213 could lead to further gains. However, if the price fails to rise above the $205 resistance, it could start another decline. The first major support levels are $196 and $188, and a break below $180 could send the price lower towards $175. The technical indicators, including MACD and RSI, suggest a bearish sentiment for Solana's price.
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