Solana might react Bullish from here

Solana is tumbling below the support level of $147 making lower lows as a reaction to the bearish market trend.

Solana price today is $142.56 USD with a 24-hour trading volume of $1,310,167,580 USD. Solana is down 5.03% in the last 24 hours, with a market cap of $44,786,434,886 USD. It has a circulating supply of 314,152,749 SOL coins.   

Solana: Analysis

With this continued pattern of making lower lows, Solana is also forming lower highs, each 15% lower from the previous one. If this trend is followed, to form the new lower high Solana might rise to $171, fib 0.786. Though the bearish trend will continue on a larger time frame, this move will be quite bullish on hourly time frames and lowers. Solana has support at $117 and the resistance is at the falling trend line – $117.