Solana’s Price Falls Faster Than a Fumbling Wizard-Will It Ever Rise Again?

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Well, folks, Solana has decided it’s time to take the plunge, diving below the $180 mark like it’s participating in some sort of high-speed swimming competition. The price is now having a cozy time below $175 and might just slip further, possibly into the abyss below $165. Someone call a lifeguard.

  • Solana’s price has taken a nice tumble below $180 and $175 against the US Dollar. A brave move, indeed.
  • It’s now lounging comfortably below $175, far from its 100-hourly simple moving average. That’s the digital equivalent of staying in bed all day.
  • A bearish trend line is forming, and it has its eye on the $191 mark. You know, just casually looming there like a storm cloud on the horizon (Kraken knows this well).
  • If the bulls can muster up some strength to defend $165 or $162, there might be a chance of a recovery. But that’s a big if.

Solana Price Dips Like a Clumsy Elf

In case you missed it, Solana has failed to stay afloat above $185, much like Bitcoin and Ethereum when they’re having an off day. It dipped below $182 and $180, setting the stage for what could only be described as an entertaining descent.

Then, like a wizard tripping over their own robes, the price gathered some bearish momentum and plunged below $175. A low of $163 was established, and now we’re seeing some consolidation of losses, accompanied by a nice bearish tilt below the 23.6% Fib retracement level of the downward dive from the $188 swing high to the $163 low. A true masterpiece of failure, really.

Currently, Solana’s price is lounging below $175, far away from the 100-hourly simple moving average, like a tired cat avoiding its responsibilities. The nearest resistance? Oh, just the humble $170 level. And if it really feels bold, it might get close to the $175 level, or perhaps the 50% Fib retracement level of its unfortunate fall.

The main resistance, of course, is at $182. A miracle could happen, and Solana might close above this magical zone, giving it a shot at another rise. The next key resistance is $190. But let’s be real, it’s more likely we’ll see a key bearish trend line forming with resistance at $191 on the hourly chart. So don’t get too excited yet.

Is There Another Decline in SOL’s Future? Or Are We Just Not Meant to Know?

If Solana can’t pull itself together and get above the $175 resistance, it could very well continue its downward spiral. First stop? $165. Then the big guns: $162. Could this be the end?

If the price breaks below $162, things could get ugly, fast. We’re talking a potential drop to $154, and if that support falls, a move toward $150 could be on the horizon. Grab your popcorn, folks.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is picking up speed in the bearish zone. It’s not slowing down, folks.

Hourly RSI (Relative Strength Index) – The RSI for SOL/USD is comfortably below 50, clearly feeling a bit down.

Major Support Levels – $165 and $162. Can they hold the line?

Major Resistance Levels – $175 and $182. The gates to glory, or more likely, despair.

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2025-11-04 08:18