Solana began a recovery above $126, with its price now consolidating and facing resistance near $132. After climbing past $126 and $128 against the US Dollar, SOL is currently trading below $130 and the 100-hourly simple moving average. A key bearish trend line is forming with resistance at $132 on the hourly chart for SOL/USD. For the price to continue rising, it needs to break through the $130 and $132 levels.
Solana’s price stabilized and started a recovery from $124, similar to Bitcoin and Ethereum. It managed to rise above $126 and surpassed the 23.6% Fibonacci retracement level of the decline from the $136 high to the $124 low. Although bulls pushed the price above $130, bears remained active around that level. The key bearish trend line at $132 continues to act as resistance.
Currently, SOL is trading below $130 and the 100-hourly simple moving average. Immediate resistance lies near $130, which aligns with the 100-hourly SMA and the 61.8% Fibonacci retracement level of the recent decline. The next major resistance is at $132, followed by $135. A sustained close above $135 could pave the way for further gains, with the next key resistance levels at $144 and potentially $150.
If SOL fails to break above $132, it could resume its decline. Initial support is near $126, with major support at $124. A drop below $124 might lead to a test of the $116 support zone, and a close below that could see the price fall toward $108.
Technical Indicators
– Hourly MACD: Gaining momentum in the bearish zone.
– Hourly RSI: Below 50.
– Major Support Levels: $126 and $124.
– Major Resistance Levels: $130 and $132.
Frequently Asked Questions
Of course Here is a list of FAQs about Solana Loses SteamWill Sellers Regain Control designed to be clear and helpful for all levels of understanding
Beginner Definition Questions
1 What does Solana loses steam actually mean
It means Solanas price which was previously rising or holding strong has started to slow down or decline The momentum behind the buying pressure is fading
2 Who are the sellers in this context
Sellers refers to traders and investors who are looking to sell their SOL tokens often to take profits or cut losses If enough people sell at once it can push the price down further
3 Is this just about the price going down a little
Not exactly Its about a shift in market momentum A small dip is normal but losing steam suggests the upward trend is weakening and the balance of power might be shifting from buyers to sellers
4 Why should I care about momentum shifts
Momentum often indicates the markets shortterm direction Recognizing a shift can help you understand potential risks or opportunities if youre trading or investing
Intermediate CauseBased Questions
5 What typically causes Solana to lose steam
Common reasons include a broader cryptocurrency market downturn negative news specific to Solanas network traders taking profits after a big runup or a decrease in positive hype and user activity
6 How do traders know if sellers are regaining control
They look at trading charts for signals like the price falling below key support levels increasing trading volume on down days and technical indicators moving from overbought to neutral or bearish territory
7 Could this just be a normal pullback and not a major reversal
Absolutely Markets rarely go straight up A pullback is a healthy temporary dip within a longer uptrend The key question is whether it finds new support and bounces or continues to break down
8 Does network performance affect this price momentum
Yes significantly Solanas past network congestion or outages have often led to selloffs because they shake confidence in its reliability a key selling point against