SOL Price Topside Bias Vulnerable If Solana Continues To Struggle Below $170

Apr 25, 2024 06:00 am Cryptocurrency 129

Solana attempted a recovery wave above the $140 level. SOL price is now struggling to clear the $160 and $170 resistance levels.

SOL price recovered higher and tested the $160 resistance against the US Dollar.

The price is now trading below $160 and the 100 simple moving average (4 hours).

There is a key bullish trend line forming with support at $146 on the 4-hour chart of the SOL/USD pair (data source from Kraken).

The pair could start another decline if it stays below $160 and $170 for a long time.

Solana Price Faces Resistance

Solana price started a major decline below the $170 and $160 support levels. SOL tested the $115 zone and recently started an upside correction, like Bitcoin and Ethereum.

There was a decent increase above the $130 and $140 levels. The price climbed above the 23.6% Fib retracement level of the downward wave ..

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