Solana Price (SOL) Consolidates: Time for a Fresh Comeback?

Sep 17, 2024 08:00 am Cryptocurrency 20

Solana declined and tested the $128 support zone. SOL price is consolidating losses and might aim for a fresh increase above the $132 resistance.

SOL price started a consolidation phase from the $128 zone against the US Dollar.

The price is now trading below $135 and the 100-hourly simple moving average.

There is a connecting bearish trend line forming with resistance at $132 on the hourly chart of the SOL/USD pair (data source from Kraken).

The pair could gain bullish momentum if it clears the $132 resistance zone.

Solana Price Holds Support

Solana price started a fresh decline from the $140 resistance zone like Bitcoin and Ethereum. SOL declined below the $135 and $132 support levels. It even tested $128.

A low was formed at $128.85 and the price is now consolidating losses. There was a minor increase above the $130 level. The ..

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