SOL price continues to weaken... warning sign of further decline
SOL price has turned downward as it failed to break through the $200-205 resistance level. Currently, SOL is trading below the 192-dollar and 100-hour simple moving average (SMA) and has not recovered from the losses after falling to 182 dollars. According to an analysis by NewsBTC, a cryptocurrency media outlet, on the 13th (local time), SOL's main resistance levels are set at $190 and $192, and its main support levels are set at $182 and $180. If it fails to break through $200, the downtrend is likely to continue, and if it falls further, it could fall to $175 and, in the worst case, to $162.
The MACD (Moving Average Convergence Divergence) is showing a strengthening downtrend in the bearish zone, and the Relative Strength Index (RSI) has also fallen below 50, indicating that selling pressure is prevailing. This suggests the possibility of additional short-term adjustments. If SOL breaks through the $192 resistance level and trades steadily above $200, the next target price could be raised to $212 and $225. However, if the $180 support level is breached, the downward trend may accelerate, so investors need to closely monitor the defense of key support levels. Experts recommend a cautious approach as market volatility increases, and they said that whether the price breaks through the resistance level will be an important indicator of future upward trends.
