Solana's price has been struggling to break through the $172 resistance zone and is now correcting its gains. It may soon test the $162 support zone. Solana experienced a downside correction after reaching a high of $171, falling below the $168 level. It also broke a bullish trend line with support at $166. Currently, Solana is trading above $162 and the 100-hourly simple moving average. To continue its upward momentum, Solana needs to overcome resistance at $168 and $172, with the next key resistance at $180. If it fails, the price could decline towards the $162 and potentially $155 support levels. The technical indicators, MACD and RSI, suggest a bearish trend.
- Content Editor ( newsbtc.com )
- 2024-10-23
Solana (SOL) Hints at Downside Correction: Can It Hold Key Support?