Solana (SOL) Tests Support After Dip — Bounce or Breakdown Ahead?
Solana started a fresh decline from the $160 zone. SOL price is now consolidating losses and might decline further below the $145 level. SOL price started a fresh decline from the $160 resistance zone against the US Dollar. The price is now trading below $155 and the 100-hourly simple moving average. There was a break below a bullish trend line with support at $150 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $152 resistance zone. Solana Price Dips Further Solana price failed to continue higher above the $160....
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Solana SOL trades below $35 against Tether (USDT) after flipping its support into resistance in recent weeks. The price of BTC failed to sustain its bullish structure as it breaks below key zones, this breakdown in prices affected other altcoins like Solana leaving investors confused as to where the market is headed. Related Reading: Ethereum Slides To $1,500 As Hype Around Merge Dies Down Solana (SOL) Price Analysis On The Weekly Chart From the chart, the price of SOL saw a weekly low of $31, which bounced from that area and rallied to a price of $44 after showing great recovery signs in....
Solana (SOL) has struggled to maintain momentum after a rally that saw it peak around the $183 level on May 14. Since then, Solana’s price action on the 4-hour chart hasn’t given a clear direction, with the cryptocurrency pulling back to retest a key support zone near $166. Related Reading: Analysis: Crypto Heats Up As $35 Billion Enters Market In Under A Month At the time of writing, Solana is trading around $169.43, up slightly by 0.70% on the day, as it attempts to defend this crucial support level and build a foundation for another upward move. Interestingly, a technical....
Solana is tailing broader crypto market trends while battling concerns about repeated network outages and centralization. Solana (SOL) risks a significant price correction in the coming weeks owing to a classic bearish reversal setup.A 35% SOL price correction ahead?On the three-day chart, SOL's price has been painting a rising wedge, confirmed by two ascending, converging trendlines and falling trading volumes in parallel.Rising wedges typically result in breakdown, resolving after the asset's price break below the lower trendline. If the price follows the breakdown scenario, it could....