Solana, that cheeky little crypto, decided to take a tumble from the $162 cliff. Down over 15% and looking a bit queasy, it’s now struggling to clamber back above the $150 wall.
- SOL, like a trapeze artist with a dodgy safety net, slipped below the $162 and $150 lines against the almighty Dollar.
- It’s now wallowing below $150 and its 100-hourly friend, the simple moving average.
- There’s a grumpy bearish trend line forming, with a ‘Keep Out’ sign at $144 on the hourly chart of the SOL/USD duo (data whispered from Kraken).
- If the bulls can muscle up and conquer the $150 zone, there might be a party.
Solana’s price dive was so dramatic, it made a goldfish blush. It not only skipped below the $162 and $150 supports but also did a belly flop below $135. The recent low was a mere $131, and now it’s trying to catch its breath, still looking a bit peaky.
Trading below $145 and its 100-hourly buddy, SOL is facing a brick wall at $144. That bearish trend line is still throwing shade, too.
The next big hurdle is near the $150 level, with the $152 mark and the 50% Fib retracement level looking on like unimpressed judges.
If SOL can magic its way above $152, it might just pull off another trick. The next target is $160, and from there, who knows? $165 might be in sight.
Could SOL be planning another dive? If it can’t muster the strength to break $145, it might just take another swan dive. The $141 zone is the first safety net, with the $136 level watching anxiously.
If $136 gives way, it’s a straight shot to the $131 zone. And if $125 says ‘nope’, SOL might just keep falling toward $120.
Technical Indicators are looking like a bunch of confused weather forecasters:
Hourly MACD – It’s like a snail in the bearish zone.
Hourly RSI – Below the 50 level, feeling a bit left out.
Major Support Levels – $136 and $131, holding up the fort.
Major Resistance Levels – $145 and $152, the unbreachable gates.
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2025-02-26 08:30