Solana trimmed gains and traded below the $175 support zone. SOL price is now approaching the $165 support and might bounce back in the near term.
SOL price started a fresh decline after it struggled near the $185 zone against the US Dollar.
The price is now trading below $172 and the 100-hourly simple moving average.
There is a key bearish trend line forming with resistance at $172 on the hourly chart of the SOL/USD pair (data source from Kraken).
The pair could start a decent upward movement if it stays above the $165 and $162 support levels.
SOL price started a fresh decline after it struggled near the $185 zone against the US Dollar.
The price is now trading below $172 and the 100-hourly simple moving average.
There is a key bearish trend line forming with resistance at $172 on the hourly chart of the SOL/USD pair (data source from Kraken).
The pair could start a decent upward movement if it stays above the $165 and $162 support levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.