Can Solana maintain the support of $172?

What's in this article

Solana has declined more than 16% since December 27 and still hovering over the support level of $172. The question is can Solana maintain the support of $172?

 Solana price today is $175.66 USD with a 24-hour trading volume of $2,180,329,792 USD. Solana is up 1.46% in the last 24 hours, with a market cap of $54,339,958,830 USD. It has a circulating supply of 309,348,695 SOL coins.

Source: Tradingview

Solana: Analysis

The support level of $172, 0.786 is crucial for Solana as the next support is deep down at $148, where Solana was last on December 13. The current support level is too weak to hold off the bearish price rally as we have a converging resistance of EMA 20, 50, 100, and 200 above that level.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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