Solana price analysis

Solana - $SOL slipped below the breakout level of $164 on Nov. 3, indicating that the markets have rejected the breakout.

A minor positive for the bulls is that they have not allowed the price to sink to the 50-day SMA ($154).

Buyers will try to push the price back above $164.

If they succeed, the SOL/USDT pair could climb to the $183 to $189 resistance zone.

Alternatively, if the price turns down from the 20-day EMA ($165), it will suggest that the bears are trying to gain the upper hand.

The pair could descend to the 50-day SMA and then to the uptrend line.

Source: CoinTelegraph