Solana (SOL) Technical Analysis: Bearish Reversal Signals & Key Levels for December 2024

In this video, we provide an in-depth technical analysis of Solana (SOL) with a focus on the 1-hour and 1-day timeframes. We discuss the strong resistance at the $200 mark and key support levels at $184 and $180, which could trigger further sell-offs if breached. A head-and-shoulders pattern on the hourly chart signals a potential bearish reversal, with a decline towards the $155-$160 support zone. We also look at the longer-term outlook, highlighting potential retracement to the $135-$140 range as a strong buying opportunity. Get key insights into volume analysis, price action, and trading strategies to navigate Solana’s market movements in the coming weeks. Always remember to practice proper risk management and consult with a financial advisor before making any trading decisions.