Solana (SOL) Extends Sell-Off to $130 as Recovery Attempts Remain Fragile 📉
Solana has experienced a fresh decline, with the price slipping below the $145 zone. The SOL price is currently consolidating losses under $140, seemingly poised to fall further below $130. Trading below the 100-hourly simple moving average, a bearish trend line forms resistance on the hourly chart around $136.
The cryptocurrency is now finding support near $130 or $128, aligning with Bitcoin and Ethereum's downward trends. Solana's next significant resistance levels are at $140 and a major benchmark at $142. A successful breach and close above these zones could revive momentum.
Should Solana fail to rise beyond $140, its decline might continue, eyeing support territory between $128 and $120. A drop below $128 could see Solana nearing the $108 support level, with technical indicators like the MACD and RSI pointing to bearish sentiment.
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