Solana Price Dips Below Key Levels: Is $145 the Next Stop for SOL?

• SOL remains under key moving averages, signaling continued selling pressure.
• Momentum indicators suggest the potential for further downside in the short term.
• Key support at $145 may be retested if the bearish trend persists.

Solana’s hourly chart shows caution for the bulls since it continues to trend downward. Currently, prices remain locked below the 5-, 10-, and 20-period moving averages, which are all sloping downwards. This configuration affirms the short-term bearish bias, as each retracement is met with selling at resistance levels.

After struggling to hold prices above $150, Solana dropped back down to trade around $147.81, indicating strong rejection near the $155 resistance zone.

The moving averages act as a dynamic resistance, where the shorter 5MA and 10MA have crossed below the 20MA, indicating a downward pressure