Solana (SOL) Holds Steady After Decline—Breakout or More Downside?

Apr 1, 2025 06:00 am Cryptocurrency 56

Solana started a fresh decline below the $132 support zone. SOL price is now consolidating and might struggle to recover above the $126 resistance.

SOL price started a recovery wave from the $122 support zone against the US Dollar.

The price is now trading below $130 and the 100-hourly simple moving average.

There is a key rising channel forming with support at $124 on the hourly chart of the SOL/USD pair (data source from Kraken).

The pair could start a fresh increase if the bulls clear the $126 zone.

Solana Price Faces Resistance

Solana price started a fresh decline below the $135 and $132 levels, like Bitcoin and Ethereum. SOL even declined below the $125 support level before the bulls appeared.

A low was formed at $122.64 and the price recently started a consolidation phase. There was a minor increase ..

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