Solana (SOL) Clings to Key Support: Is a Bounce Imminent?

Oct 4, 2024 06:00 am Cryptocurrency 12

Solana trimmed gains and tested the $132 support. SOL price is consolidating and might aim for a fresh increase above the $140 resistance zone.

SOL price started a fresh decline below the $145 zone against the US Dollar.

The price is now trading near $142 and the 100-hourly simple moving average.

There was a break above a short-term bearish trend line with resistance at $136 on the hourly chart of the SOL/USD pair (data source from Kraken).

The pair could start a recovery wave if it stays above the $132 support zone.

Solana Price Revisits $132

Solana price started a fresh decline from the $162 resistance like Bitcoin and Ethereum. SOL declined below the $155 and $150 support levels. It even declined below $142.

However, the bulls were active above the $132 support. A low was formed at $133.17 and the price is now ..

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