The price of Solana token is facing pressure amid reports of a potential drop to critical levels.
Current Price Levels of Solana
Solana (SOL) is trading around $146, indicating weakness across both daily and hourly charts. Recent data shows that the price is struggling to hold above key moving averages.
The SOL price recently tested the 20-day SMA near $145.11, which now acts as resistance, while the 50-day SMA at $160.61 also hinders recovery. If support at $145 is broken, a further decline toward the $131–$125 zone is possible.
Hourly Chart Analysis
On the hourly chart, Solana's price shows an attempt at consolidation after a sharp decline. However, recovery is capped by the 100-hour and 200-hour SMAs at $152.80 and $153.50 respectively, both trending downward.
A clear descending triangle pattern is forming, with horizontal support at $145 and lower highs pressing from above. If the SOL price breaks this support on high volume, a swift drop to $135 could occur.
Future Forecast
If the current support at $145 is breached, target levels will help determine further price movement. Short-term targets will be at $135, while medium-term goals may see swings towards $125–$131.
On the contrary, if Solana's price manages to break above $152, further movement towards levels from $168 to $200 is anticipated if market sentiment turns positive.
Current price levels for Solana show instability, and both scenarios — bullish and bearish — are valid. Investors and traders are advised to closely monitor trading volumes and moving average crossovers.
