Solana Risks: Potential Losses Ahead

Solana Faces Resistance After Decline Below $250

• Solana’s price fell below key support levels of $250 and $240 against the US Dollar.
• The price is trading under $240 and below the 100-hourly simple moving average.
• A bearish trend line shows resistance at $235 on the hourly SOL/USD chart.
• The recent low was recorded at $225, with consolidation above the $230 level.
• Major resistance levels are identified at $235 and $242, with potential further resistance at $250.

Solana’s price has dipped below significant support levels, including a recent low of $225. It faces resistance around the $235 and $242 marks as it consolidates losses.