Solana

The post <a href="https://coinpedia.org/price-analysis/solana-price-fails-to-break-out-its-bearish-influence-whats-next/">Solana Price Fails To Break Out Its Bearish Influence! What’s Next?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The SOL price has displayed a strong bearish trend since the month started, resulting in this altcoin recording a correction of approximately 30% in valuation. Moreover, the rising bearish trends have created a Fear, Uncertainty, and Doubt (FUD) like situation among its investors. 
The <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/">Solana price</a> continues its struggle to break out of its key resistance level at $156.25, indicating a strong liquidation point for the altcoin on that level. Moreover, it has formed a negative pattern in the 1D time frame, suggesting a negative price action for the altcoin in the coming time. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/Q4tPnezi9v7TnUrb7vpZ21AyD3MqQXO659TTZywMjkD3rVmXclC6FkKOOv4wTlz5qHLBrj05yFt7vFOCtBlmpcgqwjPLQEg7NZZOkmJe98Gr8Pz3XCWsusgmP_wT6CyNqo86Ew48suEF1dBewF0OGcs" alt="Solana Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: SOL/USDT
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</figure> 
Furthermore, the price has displayed a correction of 0.25% within the past seven days and 26.52% over the past 30 days. The EMA 50-day acts as a resistance to the price chart, highlighting a strong bearish influence for the <a href="https://markets.coinpedia.org/solana/">SOL token</a> in the cryptocurrency space. 
The Relative Strength Index (RSI) shows a constant decline, indicating an increase in the selling pressure within the crypto space. Moreover, the averages display a high possibility of a bearish convergence, suggesting a negative price action for the altcoin in the coming time. 
<h2 class="wp-block-heading" id="h-will-solana-price-reclaim-200">Will Solana Price Reclaim $200?</h2> 
If the bulls regain momentum, the SOL price will test its resistance level of $156.25 by the coming week. Maintaining the price at that level will set the stage for the Solana token to attempt to test its upper resistance level of $180 in the coming time. 
However, if the bears hold power over the bulls, the SOL price will fall to test its support level of $127. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $100 in the coming time.

Solana Price Fails To Break Out Its Bearish Influence! What’s Next?

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