Solana, like many other cryptocurrencies, experienced a dip in price recently but has shown signs of recovery. The price of SOL dropped below $150 but found support near $138 before starting a rebound.
Currently, SOL is trading above $145 and the 100-hourly simple moving average. A bullish trend line is forming with support at $146 on the hourly chart of the SOL/USD pair. To resume an upward trend, SOL needs to surpass the $150 and $155 resistance levels.
If the price manages to break above $152.50, it could indicate a short-term uptrend with the next major resistance at $156.50. However, if SOL fails to rally above $152.50, it might face another decline. The immediate support levels are around $145 and $142, with a potential drop towards $138 if the $142 level is breached.
Technical indicators like the MACD and RSI are showing mixed signals, with the MACD losing pace in the bullish zone and the RSI hovering around the 50 level. Traders and investors will be closely watching these levels to gauge SOL’s price movement in the coming days.
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