Solana Price Plunges 15%, Faces Uphill Battle at $150 Resistance

Solana's price has plummeted by over 15% after failing to break through the $185 resistance level, causing it to drop below key support levels.

The digital asset is now trading below the psychologically important $150 mark and the 100-hourly simple moving average, with a distinctly bearish bias in its price action.

According to data from Kraken, a connecting bearish trend line is forming on the SOL/USD pair with resistance at $144, which could hinder any potential recovery attempts by buyers.