Solana’s Great Descent into Decadence! 😅

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To say that Solana has amicably exited its lofty abode above $144 would be an understatement. Alas, the darling of digital assets, now lying lamentably beneath $140, seeks solace near the poignant $135 mark. 📉

  • The valorous SOL, in its audacious attempt to ascend, bravely corrected downwards from its $140 grasp.
  • Now, our hero gallantly holds its ground somewhat sturdily above $135 and the omnipresent 100-hourly simple moving average.
  • A dramatic denouement unfolded with a resolute break below the bullish trend line, a betrayal at support $144 on the Solana/USD hourly chart via Kraken’s esteemed archives.
  • Should Solana trudge past this $135 bastion, a descent into melancholy may await it.

Oh, to be or not to be on the Upside? 🎭

Ah, the tragedy of Solana’s attempt to best $148, an epic of Sisyphean proportions. In a turn that bore the shades of Hamlet’s doubt, it stumbled beneath the revered $145 and $144 to wander mournfully into the short-term bearish abyss. The price whispers sweetly below the 23.6% Fib retracement level of its upward journey from $123’s demure swing low to the dizzying $147 height. This foray below the bullish trend line at support $144 upon the hourly stage was most unexpected, indeed.

Courageously traded above the $135 level and the 100-hourly moving average, Solana faces the masked resistance at $142, with the illustrious $145 waiting in the wings. Alas, it is the storied $148 where it might find its redemption; a grand close beyond this tableau could herald the rise of a new act. The future’s elusive $155 beckons, with the ultimate enigma at $165, where wealth or woe lies entangled further.

Could Further Sorrows Compel SOL? 🎭

Should SOL fail to conquer the $145 bastion, we can only watch as it succumbs gracefully once more to its own gravity, searching first for the $135 level beneath. The secondary support, akin to a steadfast confidant, awaits at $132.

A fateful fall below $132 might send Solana, our melancholy protagonist, toward $128 like a lost soul in search of meaning. If this descent continues unabated, a dismal slump to $122 seems inevitable.

Technical Indicators

The MACD, with its relentless tempo, marches resolutely in the bearish zone for this Solana narrative.

The RSI, ever the introspective muse, remains below 50, as if lamenting the current state of affairs.

Major Support Levels: Ah, the twins – $135 and $132 – those silken safety nets.

Major Resistance Levels: An audience divided at $142 and $148, with $155 standing ominously in the wings.

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2025-12-05 08:13