Solana Hits Critical $137 Support: Can Bulls Prevent A Breakdown?

Quick Summary:

A strong defense at this level could signal renewed bullish strength, while a breakdown could pave the way for further declines.  As traders anticipate Solana’s next move, this article aims to explore its crucial test at the $137 support level, focusing on whether the bulls can withstand increasing pressure.

Related Reading: Solana (SOL) Could Crash 40% If It Stays Below $140 – Top Analyst Shares Insights Nonetheless, a breach below the $137 support level could trigger significant selling pressure, resulting in additional declines toward the $118 support level.

The price is currently trading below the 100-day Simple Moving Average (SMA), suggesting a shift in market sentiment, as SOL now targets a potential bearish breakout at the $137 level.

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Article Details

Author / Journalist: Godspower Owie

Category: Crypto

Markets: United KingdomNigerNigeria

Topics: RSI SOLUSD SMA SOLUSDT Sol Solana Relative Strength Index Simple Moving Average

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-03 @ 17:00:03 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 494 words

Reading Time: 3 minutes read

Sentences: 75 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 22867560

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About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 7 posts per day

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Headquarters: United Kingdom

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