🧬 #SOL price started a downside correction after it failed to clear the $162 zone. #SOL dipped below the $155 support level and moved into a short-term bearish zone like Bitcoin and Ethereum.
There was a break below a rising channel with support at $154 on the hourly chart of the #SOL/USDT. The pair dipped below the $150 level. It even tested the $140 zone. A low was formed at $141.29 and the price is now consolidating losses.
The next major resistance is near the $150 level. A successful close above the $150 resistance could set the pace for another steady increase. The next key resistance is near $155. Any more gains might send the price toward the $162 level.🔼
If SOL fails to rise above the $150 resistance, it could start another decline. Initial support on the downside is near the $142 level. The first major support is near the $140 level.
A break below the $140 level might send the price toward $132. If there is a close below the $132 support, the price could decline toward the $124 support in the near term.🔽
