Solana (SOL) Slips Toward Key Support While Markets Brace for Next Big Move

Solana's price has begun a fresh decline, falling below the $135 and $130 zones. The cryptocurrency is now consolidating its losses below $130 and the 100-hourly simple moving average. A bearish trend line is forming on the hourly chart, presenting resistance at $136. Immediate upside resistance is seen at $128, followed by $130 and then $136. A successful break above the $136 mark could potentially lead to a steady increase, with further resistance at $140 and $145. However, if Solana fails to overcome the $130 resistance, it may continue to move downwards. Initial support lies near the $125 zone, with further significant support at $122. A break below $122 could see the price drop to the $120 support. If SOL closes below $120, it might fall further towards the $112 support level in the near term. Technical indicators like the hourly MACD and RSI suggest bearish momentum. Key support levels are identified at $125 and $122, while major resistance levels are at $130 and $136.