Solana (SOL) Price Prediction: SOL Encounters Strong Headwind
The behavior of price activity in the Solana market reveals that the market has encountered strong resistance. This started as soon as price action in this market reached the $188.74 level. It appears that the market encountered significant headwinds, causing it to spiral downward afterward.
Solana (SOL) Price Prediction:
SOL/USDT Long-term Trend: Bearish (Daily Chart)
Resistance Levels: $200, $250, and $300
Support Levels: $150, $100, and $50
The downward correction that resulted as soon as price action hit the $188.74 resistance level seems quite strong. At this point, the market has retreated below the green Guppy Multiple Moving Average (GMMA) lines. Nevertheless, price action remains between the green and red GMMA lines. Meanwhile, the Stochastic Relative Strength Index (SRSI) lines have continued to fall towards the 40 mark of the indicator. However, the leading lines are still above the 50 mark.