{"id":638463,"date":"2024-08-29T05:28:53","date_gmt":"2024-08-29T05:28:53","guid":{"rendered":"https:\/\/www.wncen.com\/?p=638463"},"modified":"2024-08-29T04:40:10","modified_gmt":"2024-08-29T04:40:10","slug":"solana-price-sol-slips-140-2","status":"publish","type":"post","link":"https:\/\/www.wncen.com\/analysis\/solana-price-sol-slips-140-2\/","title":{"rendered":"Solana Price (SOL) Slips: Will a Break Below $140 Trigger More Downside?"},"content":{"rendered":"
Solana started a fresh decline below $155 and $150. SOL price tested $140 and is currently struggling to start a recovery wave.<\/em><\/p>\n
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SOL price started a fresh downward move below $150 against the US Dollar.<\/li>\n
The price is now trading below $148 and the 100-hourly simple moving average.<\/li>\n
There is a short-term declining channel forming with resistance at $145.50 on the hourly chart of the SOL\/USD pair (data source from Kraken).<\/li>\n
The pair could start a recovery wave if it clears the $148 resistance zone.<\/li>\n<\/ul>\n
Solana Price Revisits $140<\/h2>\n
Solana price started a fresh decline from well above $155 like Bitcoin and Ethereum. SOL gained pace and traded below the $150 level. It even tested the $140 support level.<\/p>\n
A low was formed at $140.53 and the price is now consolidating losses. There was a minor upward move above the $142 and $143 levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $161.95 swing high to the $140.53 low.<\/p>\n
Solana is now trading well below $150 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $146 level. There is also a short-term declining channel forming with resistance at $145.50 on the hourly chart of the SOL\/USD pair.<\/p>\n