Solana attempted a recovery wave above the $140 level. SOL price is now struggling to clear the $160 and $170 resistance levels.
SOL price recovered higher and tested the $160 resistance against the US Dollar.
The price is now trading below $160 and the 100 simple moving average (4 hours).
There is a key bullish trend line forming with support at $146 on the 4-hour chart of the SOL/USD pair (data source from Kraken).
The pair could start another decline if it stays below $160 and $170 for a long time.
Solana Price Faces Resistance
Solana price started a major decline below the $170 and $160 support levels. SOL tested the $115 zone and recently started an upside correction, like Bitcoin and Ethereum.
There was a decent increase above the $130 and $140 levels. The price climbed above the 23.6% Fib retracement level of the downward wave from the $205 swing high to the $115 low. It even spiked above the $155 zone and the 100 simple moving average (4 hours).
However, the bears
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