Solana drops to $140: Does This Level Support Rebound?
From $162 resistance, Solana corrected downward. SOL may try to rise beyond $150 again at $140.
Below $155 and $150 US Dollar, SOL price began a negative fall.
The price is below $150 and the 100-hourly SMA.
SOL/USD broke below a rising channel with support around $154 on the hourly chart.
The pair might rise again if it breaks $150 resistance.
Reconsider $140 Solana Price
Solana price fell after failing to break $162. SOL fell below $155 and entered a short-term negative zone like Bitcoin and Ethereum.
SOL/USD broke below a rising channel with support around $154 on the hourly chart. The duo fell below $145. Even $140 was tried. Price is consolidating losses after a $141.29 low.
Solana has fallen below $150 and the 100-hourly SMA. The stock faces upward resistance at $145. The negative move from the $158 swing high to the $141 low is around the 23.6% Fib retracement line.
The next big obstacle is $150, the 50% Fib retracement level of the $158 swing high to $141 low decline. A closing above $150 might start another sustained rise. Near $155 is the next resistance. More advances might push the price beyond $162.
More SOL downsides?
SOL may tumble again if it fails to break $150 barrier. The downside has first support at $142. First significant support is around $140.
A breach below $140 might push prices into $132. If the price closes below $132, it may fall to $124.
Hourly RSI – RSI for SOL/USD is below 50.
Major Support Levels: $142, $135.
$155 and $150 are major resistance levels.