Kraken News: Solana (SOL) Consolidates After Decline—Will It Break Out or Face Further Downside?

In the volatile world of cryptocurrencies, Solana (SOL) has been in the spotlight recently due to its fluctuating prices. After a fresh decline below the $132 support zone, SOL is now consolidating, leading investors to wonder if a breakout is imminent or if more downside is on the horizon. Let’s dive into the latest developments and analyze the potential future trajectory of SOL.

Solana (SOL) Holds Steady After Decline—Breakout or More Downside?

Solana (SOL) started a fresh decline below the $132 support zone and is now consolidating. The price might struggle to recover above the $126 resistance. SOL recently started recovering from the $122 support zone but is still trading below $130 and the 100-hourly simple moving average. A key rising channel is forming with support at $124 on the hourly chart. If the bulls clear the $126 zone, SOL could start a fresh increase. A low was formed at $122.64 before the consolidation phase began.

$USDD Listed on Kraken Exchange with Full Withdrawal and Deposit Support

Usdd.io, the issuer of the over-collateralized and decentralized stablecoin $USDD, has announced the exclusive listing of the token on the Kraken exchange. The listing includes complete withdrawal and deposit support, allowing users to trade seamlessly and efficiently. The development was disclosed by usdd.io on its official account.