Solana Loses Ground as It Revisits the $180 Low

Key Highlights

Solana is in a range above $180
Solana risks decline below $180

Solana (SOL) Current Statistics

The current price: $191.97
Market Capitalization: $93,740,438,149.26
Trading Volume: $3,600,350,136.52
Major supply zones: $180, $200, $220
Major demand zones: $100, $80, $60

Solana (SOL) Price Long-Term Prediction: Bearish

Solana (SOL) price falls above $176 and revisits the $180 low. The drop has eased following a pullback above the $180 support level. The crypto’s price has spent the last week fluctuating between the $180 support and below the $208 barrier. The altcoin is losing ground as it returns to the current support level of $180.

On the downside, Solana will drop to the lows of $176 and $169 if the bears break through the $180 support. However, if the bulls hold the current support level at $180, Solana will rise. The altcoin will reach the $240 and $260 highs. Solana is now valued at $189.

Solana (SOL) Price Indicator Analysis 

The altcoin may continue to drop since the price bars are below the moving average lines. The $200 resistance is crossed by extended candlestick wicks. It suggests that there is significant selling pressure at the $200 peak. The price bars on the 4-hour chart are situated beneath the lines of the horizontal moving average. Strong buying pressure is indicated by the extended candlestick tails at the $180 support.

What Is the Next Move for Solana (SOL)?

Solana halts its slide as it revisits the $180 low. Following its recovery above the current barrier, the altcoin has been bouncing between the $180 support and the $208 resistance. The cryptocurrency asset will return to its upward trajectory once the initial barrier at $203 is breached. However, selling pressure will begin when the bears breach the $180 support.

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