Well, it seems like Solana (SOL) took a dive from the $160 zone like it was being chased by a bear, and now it’s just… waiting for something, anything to help it out of this mess.
- SOL started its sad decline from the $160 “resistance” zone against the US Dollar. Maybe it was tired of winning? Who knows.
- The price is now lounging below $155, just hanging out under the 100-hourly simple moving average like it’s totally fine.
- It broke below a bullish trend line at $150. Yup, that happened, just like breaking up with someone you thought you’d marry.
- It might do a little cha-cha to recovery if it can break through the $152 resistance. But don’t hold your breath.
Oh No, Solana’s On Another Downward Spiral
So, Solana couldn’t keep it together above $160. It did what any self-respecting cryptocurrency would do — it took a nosedive. It’s now below $155, and things are starting to look a little grim.
It broke under the bullish trend line at $150, and let’s just say the mood at the SOL/USD pair chart is anything but festive. We’re talking about the $145 level here. Sounds like a new low, doesn’t it?
But wait! It’s not all doom and gloom… Solana is now in a consolidation phase (aka it’s “thinking” about what went wrong). It took a quick peek at the 23.6% Fib retracement level, like someone trying to salvage their dignity after a bad decision.
Now, Solana’s chilling below $150 and the 100-hourly simple moving average, probably scrolling through other coins for comfort. It’s facing resistance at $150 and $152. Fun times ahead, right?
If Solana wants to get its act together, it’s going to need to power through $155. A little victory here could set it up for bigger things — maybe even $160! Who knows. We might see a rebound… if everyone else is feeling generous.
Is Another Plummet on the Way?
If Solana can’t get above that $152 resistance, we might see it continue to spiral. The first pit stop is around the $145 zone, and if that doesn’t hold, we’re looking at $142.
If $142 gives way, brace yourselves. The next destination is the $130 zone. And if we close below $130? Buckle up, we could be heading toward the dreaded $125. Send a card. Send a hug.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is in full “let’s crash” mode in the bearish zone.
Hourly RSI – The RSI for SOL/USD is under 50. Basically, it’s like SOL is in the “don’t talk to me” phase.
Major Support Levels – $145 and $142. Good luck, SOL!
Major Resistance Levels – $152 and $155. Fingers crossed!
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2025-06-18 08:13