Solana began a new decrease below the support zone of $ 112. Sol Price is now consolidating and could have difficulty staying above the support zone of $ 100.
- Sol Price began a new decrease below the $ 112 support zone against the US dollar.
- The price is now quoted below $ 105 and the simple mobile average of 100 hours.
- There was a break below a key hiring triangle with $ 118 support in the GRAPH per Sun/USD torque (Kraken data source).
- The pair could accelerate lower if there is a break below the $ 100 support zone.
Solana’s price falls more than 15%
Solana Price began a new decrease below the levels of $ 122 and $ 115, such as Bitcoin and Ethereum. Sol even decreased below the support level of $ 112 to enter a bearish zone.
There was a break below a key hiring triangle with $ 118 support in the table per hour of the Sun/USD torque. The price decreased more than 15% and quoted close to the level of $ 102. A minimum for $ 102 was formed and the price recently began a consolidation phase.
The current price action remains very bassist below the FIB FI of FIB level of 23.6% of the downward movement from the $ 121 swing to the maximum to the minimum of $ 102. Solana is now quoted below $ 105 and the simple mobile average of 100 hours.
On the positive side, the price faces resistance close to the level of $ 105. The next main resistance is close to the level of $ 112 or the FIB retreat level of 50% of the movement down from the $ 121 swing to the maximum of $ 102. The main resistance could be $ 116.
A successful closure above the $ 116 resistance zone could establish the rhythm for another constant increase. The next key resistance is $ 120. More profits can send the price to the level of $ 125.
Another decrease in sun?
If Sol does not rise above the $ 105 resistance, another decrease could begin. The initial support at the disadvantage is close to the $ 102 zone. The first important support is close to the level of $ 100.
A break below the $ 100 level could send the price to the $ 92 area. If there is a closure below the $ 92 support, the price could decrease towards the $ 84 support in the short term.
Technical indicators
Macd per hour: The MacD for Sol/USD is gaining rhythm in the bearish zone.
Hours per hour RSI (Relative Force Index): The RSI for Sol/USD is below the level of 50.
Important support levels: $ 102 and $ 100.
Main levels of resistance: $ 105 and $ 112.
