Will $SOL call back to 150?
SOL is weak, having dropped 9% from its highest point.
If SOL cannot break through the resistance level of 170 USD, it may continue to decline. On the downside, the initial support level is around 165 USD, with the first major support level around 162 USD.
If it breaks below 162 USD, the price may slide further towards the 150 USD area. If the closing price is below the 150 USD support level, the price may fall to the 135 USD support level in the short term.
In short, after failing to hit 185 USD, the SOL price is currently below 172 USD and the 100-hour simple moving average as the market enters a downtrend.
On the hourly chart of SOL, a key bearish trend line has formed, with a resistance level at 172 USD. Going forward, attention needs to be paid to whether SOL can hold the support levels of 165 USD and 162 USD; if it stays above this key support level, a significant increase may be on the horizon.
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