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<p>The price of Solana (SOL) has been declining over the past three weeks after a strong bullish run from September through December of last year. It is currently trading around $91. Many Solana bulls had anticipated the run to continue, but recent technical analysis suggests there is no sign of reversal on the horizon yet.</p>
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<p>According to the chart analysis tweeted by <a href="https://twitter.com/ChartMonkeyBTC/status/1748356303691366818?t=ho_x9_aLruqGep4oKvp0lg&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">@ChartMonkeyBTC</a> from trader @protrader_365, Solana is heading towards a support line in what appears to be a corrective wave in the 4-hour timeframe. The analysis expects Solana to drop to the support zone between around $82-$75 after breaking below the current support line around $91.</p>
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<p>This would represent an additional 5-10% drop from the current price. The analysis sees greater likelihood of a move down towards the next key support level rather than a bounce from the current area.</p>
<p>Bulls are hoping the support around $82 and prior price consolidation area between $75-$80 will attract enough buyers to halt the multi-week slide. However, continued selling pressure could invalidate the $82 support and open the door to a fall below $75. Bulls are anxiously watching to see whether $82-$75 holds firm or if a deeper correction develops.</p>
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<p>The post <a href="https://captainaltcoin.com/solana-price-decline-continues-sol-bulls-now-look-to-this-zone-for-support/" rel="noopener noreferrer nofollow">Solana Price Decline Continues, SOL Bulls Now Look to This Zone for Support</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Solana Price Decline Continues, SOL Bulls Now Look to This Zone for Support

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