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.
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.