Solana Declines but Fears Rejection at $158

Key Highlights

Solana pauses above $140
The crypto asset faces further decline below $140

Solana (SOL) Current Statistics

The current price: $155.16
Market Capitalization: $81,443,677,151.27
Trading Volume: $2,843,789,726.96
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Bearish

Solana (SOL) prices fall below the moving average lines but fear rejection at $158. The cryptocurrency is currently trading above the $140 support level but below the 50-day SMA barrier. The altcoin is rising as it approaches the moving average lines. However, selling pressure will resurface when the price breaches the $140 support. The bear market will continue to decline until it hits $110.

A break above the moving average lines will signal a return to the bullish trend. Solana is expected to grow and return to its prior peak of $184.The altcoin is currently valued at $150 and could continue to drop.

Solana (SOL) Price Indicator Analysis 

The price of Solana is currently below the moving average lines and could drop even lower. The 50-day SMA is preventing the cryptocurrency from moving higher. On the 4-hour chart, the price bars are currently situated between the moving average lines. The altcoin will start to trend when the 21-day SMA or 50-day SMA is breached.

What Is the Next Move for Solana (SOL)?

Solana is trading below the moving average lines but fears rejection at $158. The altcoin’s decline has paused above the $140 support in the middle of its range-bound movement. The 4-hour chart shows that Solana is trading in a range between the resistance at $158 and the support at $140. In the meantime, the cryptocurrency signal is optimistic because it finds support above $140.

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