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Solana (SOL) Hints at Downside Correction: Can It Hold Key Support? Newsbtc 23 ott 2024

Solana (SOL) Hints at Downside Correction: Can It Hold Key Support? 📉

Solana (SOL) encountered resistance at the $172 zone, initiating a downside correction. The price is currently correcting gains from $172 against the US Dollar. It remains above $162 and the 100-hourly moving average.

A break occurred below a bullish trend line with support at $166 on the hourly SOL/USD chart. The pair may retest the $162 support before potential bullish activity resumes.

Resistance is evident near $168 and $172. Success above these could lead prices higher, possibly to $180 and $188.

Should SOL not surpass $170 resistance, there's potential decline with initial support at $164, followed by $162. A close below $155 may lead to $150 support zone.

The hourly MACD shows bearish momentum, and RSI is under 50, indicating potential further downside.

Fonte: www.newsbtc.com ↗

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