Solana (SOL) Faces Potential Further Decline Amidst Top 10 Coins Turning Red
Main Idea
Solana (SOL) has declined by 4.88% in the last 24 hours, facing resistance near $171.84 and testing critical support levels at $165 and $160 amid a broader market correction.
Key Points
1. Solana (SOL) price dropped 4.88% in the past 24 hours, failing to break the $171.84 resistance level.
2. Key support levels for Solana are currently at $165 and $160; a break below these could lead to further declines toward $150.
3. The $171.84 resistance is a significant psychological barrier; failure to sustain a breakout triggered selling pressure.
4. Traders should monitor daily candle closes near $168.71 and watch for breaks below $165 to adjust strategies.
5. The broader market correction is contributing to Solana's decline, with midterm outlook suggesting potential tests of the $150-$160 zone.
Description
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