Solana’s Descent: Will the Bears Get Their Lunch? Find Out Now! 🐻

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Once again, Solana takes a nosedive from the glorious $210 realm. This time, it might just stumble further below the $172 support, much to the delight of the bearish brigade.

  • It all started with Solana’s inability to conquer $210, a challenge it shrugged off with dismal grace.
  • Now, it’s under $185, flirting with the 100-hourly simple moving average like it’s some kind of lost cause.
  • A sinister bearish trend line looms overhead, with resistance hanging at $188, mocking the very notion of a price rebound.
  • Unless it miraculously surmounts the $188 resistance, we’re likely in for more woe. 🎭

Another Plunge for Solana, Anyone?

Solana, the cryptocurrency that couldn’t, has once again failed to clear the $210 hurdle, much like Bitcoin and Ethereum’s periodic tantrums. It’s now sinking beneath both the $200 and $188 support zones, slipping into a bear pit of despair.

The bears are in full charge, pushing the price under the 50% Fibonacci retracement of Solana’s brief foray into glory, from a lowly $173 to a glittering $209. And yes, there’s a bearish trend line forming, with resistance teasing at $188 on the hourly chart-watch out for that!

Now trading beneath $185 and mocking the 100-hourly moving average, Solana has also fallen below the 76.4% Fib retracement from its brief ascent. How far can it fall? That’s the million-dollar question. 💸

As for the upside, Solana is encountering resistance near $182. The next major hurdle? $184. But the true test awaits at $188, the Mount Everest of resistance. Overcoming that could lead to more upward momentum, with a possible reach toward $200. But let’s not get ahead of ourselves. 🏔️

Can SOL Hold Its Ground, Or Is More Pain Incoming?

If Solana fails to rise above the $182 resistance, brace yourselves for more downward movement. The first stop? The $175 zone. Below that, we’re looking at a major support level around $172.

Break below $172, and Solana could plummet to $162, like a skydiver without a parachute. If the abyss deepens further, don’t be shocked if we find ourselves at the $150 support zone in the near future. ⛔️

Technical Indicators

Hourly MACD: It’s gaining pace in the bearish zone-someone stop it.

Hourly RSI (Relative Strength Index): It’s below 50. Just let that sink in.

Major Support Levels: $172 and $162.

Major Resistance Levels: $182 and $188.

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2025-08-19 08:30