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SOL price made several attempts to break through the $40 resistance zone. However, the price failed to break through the $40 barrier and began a fresh decline.The price fell rapidly below the $38.50 support level and the 55 simple moving average. On the 4-hours chart of the SOL/USD pair, there was a breakdown below a key bullish trend line with support at $35.90. The pair dropped below the $35.50 support level as well as the 55 simple moving average.Furthermore, a push below the 50% Fib retracement level of the upward move from the $30.31 swing low to the $38.99 high happened. The pair has already fallen below the $35 level and is currently trading at the $33.40 level.According to the chart, the<a href="https://www.coingabbar.com/en/crypto-currency/solana-sol-prices-usd" rel="noopener noreferrer nofollow"> price of solana</a> is clearly trading below $35 and the 55 simple moving average. Overall, a clear move below the $32.80 support zone could lead the price to extend its losses.According to Price Analysis, The market capitalization of this SOL is estimated to be $16,927,884,908. The 24-hour trading volume for the same coin is around $1,619,015,323.On the upside, an immediate resistance level is at $34 The next significant barrier is placed at the $35 level. A closing above the $35 barrier level might spark a new rise. In this situation, the price may rise to $37 or higher. Any further advances might push the price up to the $40 barrier level.If SOL fails to break through the $34. barrier level, it may continue to fall. On the downside, there is immediate support at $32.50. The next major support level is at $30, below which the price may accelerate downward. In the aforementioned scenario, the price may fall to $27.KEY LEVELS :RESISTANCE LEVEL : $34.50-$36.00SUPPORT LEVEL : $32.00-$30.00<img src="https://academy-public.coinmarketcap.com/optimized-uploads/9c2f59ef8da94ee19824376256cb1907.png" />Will SOLANA adopt the Cup and Handle pattern? What are your thoughts on this? Comment below.Get more crypto related updates on ;-<a href="https://www.coingabbar.com/en/crypto-news-english" rel="noopener noreferrer nofollow"> https://www.coingabbar.com/en/crypto-news-english</a>

SOLANA PRICE ANALYSIS : Will the Cup and Handle pattern and the 20 Day EMA prevent SOLANA from falling further?

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