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 Solana stock price started a new round of decline from the $188 area. SOL price is currently consolidating below $180 and may fall further below $175.
Solana price drops againSolana price extends its gains, breaking above $180 and $182, with Bitcoin and ether Square is similar. SOL even broke above $188 at one point before bears emerged. The price bottomed out near $189. The price fell below $185 and $180 and formed a low near $176. The price is now consolidating losses and is trending lower, below the 23.6% Fibonacci retracement level of the previous drop from the $188 high to $176 low. Additionally, a key descending trend line is forming with resistance near $192 on the hourly chart of SOL/USD. Solana is currently trading below $185 and below the 100 hourly simple moving average. On the upside, immediate resistance is near $182 or the 50% Fibonacci retracement level of the drop from the $188 high to $176 low.  The next major resistance is near $185. Major resistance is likely to be at $188. A successful break above the $188 resistance zone could set the stage for the next round of steady gains. The next key resistance is $192 and the trend line. Any further gains could push the price towards $200. Downside continuation in SOL?If SOL fails to break the $188 resistance, the decline is likely to continue. Initial support on the downside is near $175. The first major support level is near $172. If it breaks below the $172 mark, the price may test towards the $165 support area. If the price closes below the $165 support, the price may test further towards the $150 support in the short term. Technical indicators Hourly MACD – The MACD indicator for SOL/USD is accelerating in bearish territory. Hourly RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major support levels – $175 and $172. Major resistance levels – $188 and $192. The next market trend is particularly critical. The door to the altcoin era has opened, and the opportunity is fleeting! Don't let hesitation hold back your wealth dreams, and don't let the trap of air coins swallow up your principal! I will take everyone to aim at the opportunities to get rich in copycats. There is no problem if the expected space is more than 10 times. Scan the QR code below and take you to lay out the entire bull market! Joining us means standing on the shoulders of giants and seizing the opportunity to get rich quickly. If you miss it, you may miss a hundred times the opportunity. Many friends in the current market still don’t understand that buying at the second level is not good and playing at the first level. You can join us! Level one feeding tutorial, level two real-time entry and exit points and position allocation details, a group of professional people will serve you! You can follow me or add me on WeChat below! Welcome everyone to join my group to discuss and exchange information! VX: suiyue3786, backup VX: LS688677   |
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