Solana Price Analysis: SOL Dumps 9% Overnight, This is the Support to Watch
Key Support levels: $118, $100
Key Resistance level: $136
The price action took a sharp turn once it touched the resistance at $136, and since then, SOL was unable to reclaim this level. With this in mind, the next major support to consider is found at $118, and Solana is rapidly approaching it at the time of this writing.
![SOLUSDT_2022-04-06_09-58-41](https://cryptopotato.com/wp-content/uploads/2022/04/SOLUSDT_2022-04-06_09-58-41.png)
Technical Indicators
Trading Volume: SOL had excellent buying volume during its rally, but it has since decreased, which allowed the bears to take control over the price action.
RSI: The RSI reached almost 80 points at the height of the rally, but now, it is quickly falling away from the overbought area (>70 points).
MACD: The daily MACD is bullish, but the histogram shows lower highs. This indicates a loss of momentum, and this pullback may take price back to support.
![SOLUSDT_2022-04-06_09-59-01](https://cryptopotato.com/wp-content/uploads/2022/04/SOLUSDT_2022-04-06_09-59-01.png)
Bias
The current bias is neutral. It’s important to monitor how the price performs at the next support to assess future possibilities.
Short-Term Prediction for SOL Price
The bulls appear to be exhausted, and they were unable to push prices above $136. For this reason, it’s reasonable to expect the first support level to be revisited in a relatively short period.