Solana’s Tough Climb: SOL Price Struggles to Find Solid Ground

Jun 12, 2024 06:00 am Cryptocurrency 24

Solana extended losses below the $150 support zone. SOL price is consolidating and might recover if it clears the $152.50 resistance zone.

SOL price declined further and even traded below $150 against the US Dollar.

The price is now trading below $160 and the 100-hourly simple moving average.

There is a connecting bearish trend line forming with resistance at $150 on the hourly chart of the SOL/USD pair (data source from Kraken).

The pair could clear the $152.50 resistance to start a short-term recovery wave.

Solana Price Eyes Recovery

Solana price remained in a short-term bearish zone like Bitcoin and Ethereum. SOL extended losses below the $160 support zone and is now consolidating losses. It is stuck below the $150 level.

There was a minor move above the 23.6% Fib retracement level of the downward move from the $163.25 swing ..

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