Solana Stumbles Below $150 as Buyers Face $152 Resistance Hurdle

Solana has entered a downward spiral, dropping from $162 and shedding over 15 percent of its value. The digital asset now struggles to regain momentum above the crucial $150 resistance point.

The downward movement began after Solana failed to break through the $185 resistance level, notably lagging behind Bitcoin in the same period. The decline continued past several key support levels, including $162 and $150.

SOL's descent took it below $135, with the recent low recorded at $131. A minor recovery wave did materialize above the 23.6% Fibonacci retracement level of the downward movement from the $173 swing high to the $131 swing low.