Rally

Solana

Equal

The post <a href="https://coinpedia.org/price-analysis/solana-in-dire-straits-will-the-bulls-trigger-a-10-upswing-and-save-the-sol-price-rally-from-an-equal-loss/" rel="noopener noreferrer nofollow">Solana in Dire Straits: Will the Bulls Trigger a 10% Upswing and Save the SOL Price Rally From an Equal Loss?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
After a roller-coaster week, the crypto markets are heading towards the weekly close, which is expected to be somewhat volatile. While the Solana price was expected to initiate a rebound, the latest pullback has caused the levels to drain below the crucial support. Therefore, the <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">SOL price</a> is now believed to be in acute trouble if the bulls fail to close the weekly trade on a bullish note.&nbsp;
The Solana price has been forming consecutive lower lows and highs after failing to hold above $200, which confirmed the swelling strength of the bulls. This caused the price to lose the crucial support at $175, later at $64 and finally broke below the critical support zone between $155 and $159. Now that the levels have dropped close to $140, the question arises whether the rally may continue with the bearish trend &amp; hit $133 or flip and rise to the support-turned-resistance zone.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcvqxzy_L62M7lBS1NN5jpOV43OgfNaWYiinvlBrJEjifMZrI0xicY5EvaORueaz4nok0BXNH65ad3wwIsbixXGDzDfF8IGhhp4fTym2yU128_leqH1EPQXfluorGDgHNHNKpldP8shGmNufOkPy3i9ACKU?key=-yFlyDGdYcr-6NxDDIBwKA" alt="">
</figure>
As seen in the above chart, the SOL price is trading within a decisive symmetrical triangle and unfortunately failed to hold the support. The bulls are trying hard to push the levels up but the lack of strength is making it a tedious job. Besides, the RSI also ranged within a similar pattern and unfortunately broke down the levels, validating a continuation of a bearish trend. Therefore, the price is now believed to head towards the lower crucial support, while the bulls are expected to try their luck at $140.&nbsp;
Currently, the technicals are heavily bearish on Solana, with sentiments towards a strong sell. The RSI, StochRSI, ADX, and Bull-Bear power are presently neutral but below the average levels at 37.91, 9.77, 22.41 &amp; -21.96, respectively, indicating the bottoms may not be in. Meanwhile, the moving averages are pointing towards a sell signal and hence the SOL price is expected to drop towards its interim support.&nbsp;
However, a weekly close above $150 or $155 may invalidate the bearish trajectory but keep up the consolidation phase for the Solana (SOL) price rally.

Solana in Dire Straits: Will the Bulls Trigger a 10% Upswing and Save the SOL Price Rally From an Equal Loss?

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