Solana (SOL) Fights to Hold $120—Is the Next Move Lower?

Solana failed to settle above $132 and nosedived. SOL price is now consolidating losses below $130 and might decline further below $120. SOL price started a fresh decline below $130 and $128 against the US Dollar. The price is now trading below $128 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $131 on the hourly chart of the SOL/USD pair (data source from Kraken). The price could start a recovery wave if the bulls defend $122 or $120. Solana Price Dips Again Solana price failed to remain stable above $132 and started a fresh decline, like Bitcoin and Ethereum. SOL declined below the $130 and $128 support levels. The price gained bearish momentum below $126. A low was formed at $121, and the price is now consol...