Solana is accelerating lower below $12 and $10 levels against the US Dollar. SOL price remains at a risk of a move towards the $7.50 and $7.00 levels.
Sol price is struggling and trading well below the $12 level against the US Dollar.
The price is now trading below $10 and the 100 simple moving average (4-hours).
There is a major bearish trend line forming with resistance near $10.55 on the 4-hours chart of the SOL/USD pair (data source from Kraken).
The pair could face a strong selling interest near $10.55 and $12 in the coming days.
Solana Price Gains Bearish Momentum
This month, solana price saw a strong decline from the $15 resistance zone. There was a drop below the $13.50 and $12 support levels to move into a bearish zone again.
Sol price even dumped below the $10 level and the 100 simple moving average (4-hours). The price traded as low as $9.66 and is currently consolidating losses. There are clear strong bearish signs below the $10 level, unlike bitcoin and ethereum.
Besides,
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