Solana (SOL) Plunges Lower, Market Sentiment Turns Sharply Bearish
Solana failed to settle above $85 and trimmed most gains. SOL price is now consolidating losses above $80 and might continue to move down. SOL price started a fresh decline below $84 and $82 against the US Dollar.
The price is now trading below $82 and the 100-hourly simple moving average. There was a break below a declining channel with support at $82 on the hourly chart of the SOL/USD pair (data source from Kraken). 50.
Solana Price Dips From $85 Solana price failed to remain stable above $84 and started a fresh decline, like Bitcoin and Ethereum . 50 levels. Besides, there was a break below a declining channel with support at $82 on the hourly chart of the SOL/USD pair.
The bears even pushed the price toward $80. 92 low. Solana is now trading below $82 and the 100-hourly simple moving average.
10 level. 92 low. 80.
80 resistance zone could set the pace for another steady increase. 50. Any more gains might send the price toward the $85 level.
More Losses In SOL? 80 resistance, it could continue to move down. Initial support on the downside is near the $80 zone.
50 level. 50 level might send the price toward the $72 support zone. If there is a close below the $72 support, the price could decline toward the $70 support in the near term.
Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bearish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. 50.
80.
