Solana struggled to clear the $172 resistance zone. SOL price is correcting gains and might soon test the $162 support zone.
SOL price is correcting gains from the $172 resistance zone against the US Dollar.
The price is now trading above $162 and the 100-hourly simple moving average.
There was a break below a connecting bullish trend line with support at $166 on the hourly chart of the SOL/USD pair (data source from Kraken).
The pair could revisit the $162 support zone before the bulls take a stand.
Solana Price Eyes Retest of Support
Solana price climbed above the $150 and $155 levels. SOL gained pace after there was a close above the $162 resistance level. However, the bears were active near the $172 zone.
The price started a downside correction from the $171 high like Bitcoin and Ethereum. There was a move below the $168 level. The price declined below the 50% Fib retracement level of the upward move from the $161.23 swing low to the $171.00 high.
Besides, there was a
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