Solana has begun a new downturn, falling below the $150 mark. The price of SOL is currently stabilizing its losses under $150 and could drop further below $142. After failing to hold above $162, SOL initiated a decline, mirroring the trend in Bitcoin and Ethereum, and broke through support levels at $155 and $150. Bearish momentum intensified below $150, with a low of $141 reached before the price started to consolidate. Although there has been a slight recovery, it remains below the 23.6% Fibonacci retracement level from the drop between $172 and $141.
Currently, SOL is trading below both $150 and the 100-hour simple moving average. On the upside, resistance is forming around $148, reinforced by a bearish trend line on the hourly chart. The next significant resistance lies near $152, with major resistance at $160, which aligns with the 61.8% Fibonacci retracement level. A decisive close above $160 could signal a sustained upward move, potentially targeting $172 and then $180.
Conversely, if SOL fails to surpass the $152 resistance, it may resume its decline. Initial support is around $142, followed by a key level at $140. A breach below $140 could push the price toward $132, and further losses might lead to a test of the $120 support.
Technical indicators show the hourly MACD accelerating in bearish territory, and the RSI is below 50, indicating weakening momentum. Key support levels are $142 and $140, while major resistance levels are $148 and $152.
Frequently Asked Questions
Of course Here is a list of FAQs about Solana dropping below 150 designed to be clear and helpful for all levels of investors
General Beginner Questions
1 What does it mean that Solana dropped below 150
It means the price of one SOL token is now lower than 150 This is a key psychological level and breaking below it can signal a lack of buyer confidence making further price drops more likely
2 Why is the price of Solana going down
Prices can drop for many reasons including a general downturn in the overall crypto market negative news investors selling off their holdings or a decrease in activity and demand on the Solana network itself
3 Is my investment in Solana now worthless
No your investment is not worthless It has decreased in value The cryptocurrency market is highly volatile and prices can fluctuate dramatically A price drop is a paper loss until you actually sell your tokens
4 Should I sell my Solana now
This is a personal decision based on your risk tolerance and investment strategy Selling during a dip locks in your losses Some investors see dips as buying opportunities while others sell to avoid further potential declines Never invest more than you can afford to lose
5 What does vulnerable to further declines mean
It means that breaking below a major price level like 150 can trigger more selling Traders who set stoploss orders at that level may have been automatically sold out and the break can scare other investors creating downward momentum that pushes the price even lower
Technical Advanced Questions
6 What is a support level and was 150 one for Solana
A support level is a price point where an asset tends to stop falling and bounce back because of concentrated buying demand Yes 150 was acting as a major support level Falling below it indicates that the buying pressure at that price has been overwhelmed by selling pressure
7 Could this drop be related to network issues or congestion
Yes absolutely While Solana has improved its history of network outages can negatively impact investor confidence If there are current or recent congestion problems it could be a direct catalyst for the price drop
8 Where can the price go next
Technical analysts look for the next major support level below the current price If 150 is broken