SOL Coin Price On The Path Of Retesting $155 Amid Ongoing Market Uncertainty!

The Solana price has failed to reclaim its $180 mark. This has resulted in this altcoin experiencing a significant bearish action over the past few days.

The price of Solana (SOL) has seen a decrease of 1.08% in the past 24 hours, currently trading at $164.03. However, the altcoin has experienced a significant surge of 17.01% over the past 30 days. Despite the recent downturn, SOL has a YTD return of 61.92%. With a trading volume of over $2 billion, the altcoin has shown strong liquidity in the crypto market.

Solana Price Analysis 1D Chart

The 1D chart of SOL price showcases a downtrend with a crucial support level at $155 and resistance at $181.

Solana’s price encountered a crucial resistance level at $180, which it failed to reclaim. This failure has resulted in the altcoin experiencing a significant bearish action over the past few days. Moreover, the altcoin is currently trading below the EMA-50, indicating a bearish sentiment.

However, the RSI for SOL has flattened out, indicating a neutral price sentiment for the altcoin. This could be an indication of an upcoming bullish trend.

Solana Key Price Levels To Watch

Solana’s price could experience a bullish reversal if it manages to break through the resistance level of $181. This bullish momentum could push the price of Solana toward its upper resistance level of $200 in the upcoming week.

On the other hand, if the bears continue dominating the crypto space, the Solana token could retest its support level of $155. Moreover, an intensified bearish action could pull the price toward its lower support level of $127 this month.

Solana Chart Analysis: A Closer Examination

The EMA-50/200-day has recorded a decrease in the SOL price chart in the 1D time frame. This indicates decreased buying-and-selling pressure for the altcoin in the crypto space.

However, the Relative Strength Index (RSI) has experienced a sharp drop toward its neutral point. This suggests a mixed price sentiment for the altcoin.

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