Solana (SOL) had recently experienced a decline after witnessing a classic ascending channel breakdown and falling below critical support lev
SOL had been under bearish pressure after failing to hold above the crucial $172 level. Can the buyers step in?The recent price action suggested that the bulls gained control, but strong resistance at $162 could prevent an immediate rally.had recently experienced a decline after witnessing a classic ascending channel breakdown and falling below critical support levels as bearish momentum took hold. The question is whether the bulls can regain control or if further downside is imminent.
Nonetheless, the price reclaimed some crucial support levels and hovered above the 20, 50, and 200-day EMA at the time of writing. The RSI stood above the 50 mark at press time, depicting a slight bullish edge. However, buyers should look for a potential close above the RSI resistance point at 60 to gauge the chances of a rally in the coming days.The immediate support level to watch is near the $150 mark . If SOL can hold above this level, it might attempt to retest the $172 resistance zone in the coming days.
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