Ethereum

Solana

Bitcoin

Resistance

Solana started a fresh decline from the $155 resistance. SOL price is down over 10%, but the bulls are now protecting the $132 support. 
<ul> 
 <li>SOL price started a strong decline from the $155 resistance against the US Dollar.</li> 
 <li>The price is now trading below $145 and the 100-hourly simple moving average.</li> 
 <li>There was a break below a connecting bullish trend line with support at $150 on the hourly chart of the SOL/USD pair (data source from Kraken).</li> 
 <li>The pair could correct losses unless the bulls struggle to protect the $132 support.</li> 
</ul> 
<h2 id="solana-price-dives-10">Solana Price Dives 10%</h2> 
Solana price struggled to continue higher above the $155 resistance. SOL reacted to the downside and declined below the $150 support. There was a break below a connecting bullish trend line with support at $150 on the hourly chart of the SOL/USD pair. 
The pair gained bearish momentum below the $145 support and declined more than outperformed <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-takes-hit-58k/" target="_blank" rel="noopener ">Bitcoin</a> and <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-plummets-3150/" target="_blank" rel="noopener ">Ethereum</a> in the past two sessions. There was a drop toward the $132 support zone. A low was formed at $132.17 and the price is now attempting a recovery wave. 
There was a move above the $135 level. The price is now approaching the 23.6% Fib retracement level of the recent decline from the $154.74 swing high to the $132.17 low. 
Solana is now trading well below the $145 level and the 100-hourly simple moving average. If there is another increase, the price might face resistance near the $138 level. The next major resistance is near the $143.50 level and the 50% Fib retracement level of the recent decline from the $154.74 swing high to the $132.17 low. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-627755 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana.png?resize=1024%2C461" alt="Solana Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/Solana.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/Solana.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
A successful close above the $143.50 resistance could set the pace for another steady increase. The next key resistance is near $150. Any more gains might send the price toward the $155 level. 
<h2 id="more-losses-in-sol">More Losses in SOL?</h2> 
If SOL fails to rise above the $143.50 resistance, it could start another decline. Initial support on the downside is near the $135 level. 
The first major support is near the $132 level, below which the price could test $125. If there is a close below the $125 support, the price could decline toward the $112 support in the near term. 
Technical Indicators 
Hourly MACD – The MACD for SOL/USD is gaining pace in the bearish zone. 
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. 
Major Support Levels – $135, and $132. 
Major Resistance Levels – $143.50 and $150.

Solana Eases Gains: Can SOL Bulls Safeguard the $132 Support?

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