Solana (SOL) Freefall—Can It Hold Above The $100 Danger Zone? Trending Global News

Solana began a new decline below the $ 112 support area. Sol Price is now consolidating and can struggle to stay above the $ 100 support area.

• Soul Price began a new decline below the $ 112 support sector against the US dollar.
• The price is now trading below the simple moving average of $ 105 and 100-hour.
• There was a brake under a major contract triangle with support at $ 118 per hour per hour of Sol/USD pair (data source from cracon).
• If there is a break below the $ 100 support area, the pair can accelerate less.

Solana value is more than 15%

The Solana Price began a new decline below $ 122 and $ 115 levels like bitcoin and atherium. Even the $ 112 declined below the support level to enter a recession area.

The Sol/USD pair had a brake under a major contract triangle with support at $ 118 per hour chart. The price declined by more than 15% and traded close to the level of $ 102. A low was formed at $ 102 and the price recently launched a consolidation phase.

The current price action is still below 23.6% FIB retracement level below $ 102 lower than $ 121 swing. Solana is now trading below the simple moving average of $ 105 and 100-hour.

Inverted, the price is facing resistance near the level of $ 105. The next major resistance is near the level of $ 112 or $ 121 swing to 50% FIB retracement level $ 102 low. The main resistance can be $ 116.

$ 116 can determine the speed for a successful nearly another stable increase above the resistance area. The next major resistance is $ 120. Any more profit can send a price towards a level of $ 125.

Another decline in Sol?

If SOL fails to rise above $ 105 resistance, it can begin another decline. The initial support on the negative side is near the $ 102 area. The first major support is near the level of $ 100.

A break below a level of $ 100 can send a price towards $ 92 zone. If $ 92 is a close below support, the price may fall towards $ 84 support in the near period.

Technical indicator

MACD for SOL/USD per hour is gaining momentum in the recession area.

RSI (relative power index) – RSI for SOL/USD is below 50 level per hour.

Major support levels – $ 102 and $ 100.

Major resistance levels – $ 105 and $ 112.