June 28, 2022
COINBUZZFEED

COINBUZZFEED

Solano price is struggling below $100 against the US Dollar, similar to bitcoin. A major bearish trend line forming with resistance near $98.20 on the 4-hours chart of the SOL/USD pair.

Solana price is struggling below $100 against the US Dollar, similar to bitcoin. A major bearish trend line forming with resistance near $98.20 on the 4-hours chart of the SOL/USD pair. The trend line is near the 23.6% Fib retracement level of the downward move from the $111 swing high to $94 swing low. SOL could decline sharply if there is a clear move below the $95 support. solana price is clearly trading below $100.00 and the 55 simple moving average (4-hours).

Overall, the price must clear $100 and $102 to start a fresh increase in the near term. The next major resistance could be $110.00, above which the price could rise to $120.00. A downside break below the $92 support level might spark a sharp decline.

The post Solana (SOL) Price Analysis: Risk of Break Below $95 appeared first on Live Bitcoin News.

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