SOL Price (Solana) Close Below $50 Could Spark Larger Degree Correction

SOL Price (Solana) Close Below $50 Could Spark Larger Degree Correction

Solana rallied above the $65 resistance against the US Dollar. SOL price is now correcting gains and might even slide below the $50 support.


  • SOL price started a major rally above the $60 resistance before the bears appeared against the US Dollar.

  • The price is now trading below $60 and the 100 simple moving average (4 hours).

  • There was a break below a short-term rising channel with support near $58.00 on the 4-hour chart of the SOL/USD pair (data source from Kraken).

  • The pair could accelerate lower below the $55.00 support zone in the coming sessions.

  • Solana Price Starts Downside Correction


    In the past few days, Solana saw a major rally above the $60 level. SOL gained bullish momentum after it settled above $60, outperforming Bitcoin and Ethereum.


    The bulls even pumped the price above the $65 level. A high was ..

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