Solana (SOL) Decline Intensifies — Bears Tighten Grip, Recovery Looks Unlikely

Solana's price has declined below $180 against the US Dollar, currently trading under $175 and the 100-hourly simple moving average. A bearish trend line is forming with resistance at $191 on the hourly chart. Immediate resistance lies near $170, with a more significant hurdle at $175, potentially leading to $182. Failure to surpass $175 could trigger further decline, with initial support around $165. Breaching the $162 support level could push the price towards $154 and potentially $150. The hourly MACD indicates bearish momentum, and the RSI is below 50. Key support levels are identified at $165 and $162, while major resistance levels stand at $175 and $182. A successful close above $182 might propel Solana toward $190 and potentially $200. Conversely, continued downward movement could see Solana testing lower support levels in the near term.