Solana Price (SOL) Turns Red: Key Supports That May Spark a Bullish Upside?

Sep 2, 2024 06:00 am Cryptocurrency 73

Solana started a fresh decline below $150 and $142. SOL price tested $128 and is currently struggling to start a recovery wave.

SOL price started a fresh downward move below $150 against the US Dollar.

The price is now trading below $140 and the 100-hourly simple moving average.

There is a connecting bearish trend line forming with resistance at $134 on the hourly chart of the SOL/USD pair (data source from Kraken).

The pair could start a recovery wave if it clears the $138 resistance zone.

Solana Price Extends Losses

Solana price started a fresh decline below the $150 support like Bitcoin and Ethereum. SOL gained pace and traded below the $142 level. It even tested the $128 support level.

A low was formed at $127.80 and the price is now consolidating losses. The price is showing some signs of a recovery ..

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