Solana Tumbles below the $150 Low

Key Highlights

Solana plunges to a low of $142
Solana resumes its bearish ascent

Solana (SOL) Current Statistics

The current price: $144.09
Market Capitalization: $79,861,354,732.52
Trading Volume: $7,417,777,364.84
Major supply zones: $220, $240, $260
Major demand zones: $120, $100, $80

Solana (SOL) Price Long-Term Prediction: Bearish

Solana price tumbles below the $150 low after its rejection at the $170 barrier. The cryptocurrency asset has continued to tumble as selling pressure builds at higher prices. Today, the cryptocurrency has surpassed the $150 support. Since November 5, the cryptocurrency price has continued to retest the present support as sellers try to push it below $150.

On the downside, if the bears break below the present support, the cryptocurrency will begin its bearish ascent. Solana will fall and retest the next support level at $126. Furthermore, the negative trend will continue to the low of the 2.618 Fibonacci extension, or $93.34.Solana is now trading at $142 as of this writing.

Solana (SOL) Price Indicator Analysis

The moving average lines are sloping downward as the cryptocurrency continues to experience selling pressure. The 21-day SMA is below the 50-day SMA, signaling a drop in the cryptocurrency. On the 4-hour chart, the bearish trend has breached the horizontal moving averages.

What Is the Next Move for Solana (SOL)?

Solana’s price begins to fall as it tumbles below the $150 low. The digital asset is trading sideways between $152 and $172. The bears are seeking to break through the lower price range. A breach below the present support level will cause the cryptocurrency to begin selling pressure.

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