Will Solana Break or Bounce?
The price of SOL (Solana) has dropped from around $183.38 to around $173 today, showing a downward trend in the H1 timeframe.
However, it's important to note that SOL has not broken below the critical support zone of $173.51 to $172.66. Instead, it's been moving sideways on this zone.
We'll be keeping an eye on this situation. If SOL breaks below the $173.51-$172.66 support zone, that could signal a further decline in price. On the other hand, if the price bounces back from this zone, it could indicate a potential continuation of the upward trend.
However, it's important to note that SOL has not broken below the critical support zone of $173.51 to $172.66. Instead, it's been moving sideways on this zone.
We'll be keeping an eye on this situation. If SOL breaks below the $173.51-$172.66 support zone, that could signal a further decline in price. On the other hand, if the price bounces back from this zone, it could indicate a potential continuation of the upward trend.
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