Solana

Parabolic

Bitcoin

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<ul>
 <li>Solana’s price faces selling pressure but could rebound if it surpasses $155.</li>
 <li>A break below $135 might drive SOL towards $100, with sellers actively adding short positions.</li>
 <li>Current trading at $144.25 shows slight neutrality, with an oversold RSI and declining trading volume indicating short-term weakness.</li>
</ul>
Solana’s (SOL) price is experiencing significant pressure, but there is potential for a rebound. If Solana can regain momentum and surpass the $155 mark, it could reinvigorate buyers and invalidate the current downtrend.
Recently, Solana’s price fell below the critical $150 support zone, highlighting intense selling pressure. Despite a notable rebound from the $120 mark last month, sellers remain active, attempting to push SOL below the trendline support to extend the downturn. A decisive break and close below $135 could accelerate this selloff, potentially driving SOL toward the $100 mark in the coming weeks. Since the beginning of the month, sellers have been adding to their short positions, contributing to the price decline.
At the time of writing, <a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">Solana</a> is trading at $144.25, reflecting a slight intraday increase of 0.06%. This neutrality is evident on the charts, with a monthly return ratio of -9.20% and a yearly return of 8.43%, indicating short-term weakness. In the SOL/BTC pair, the price stands at 0.00218 BTC, and Solana’s market cap is approximately $66.64 billion. Analysts remain neutral, suggesting that SOL may experience volatile price swings in the near future.
The RSI has dipped into the oversold region, while the MACD indicator has shown a bearish crossover with red bars appearing on the histogram. Additionally, trading volume has decreased by 54.34% to $969.27 million, indicating a decline in investor interest. One key support level at $141 is showing a buy signal on the daily chart, suggesting that if this support holds, SOL could see a rebound over the next one to four days.
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The post <a href="https://cryptonewsland.com/solana-can-reclaiming-the-155-mark-invalidate-the-downtrend/" rel="noopener noreferrer nofollow">Solana: Can Reclaiming the $155 Mark Invalidate the Downtrend?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Solana: Can Reclaiming the $155 Mark Invalidate the Downtrend?

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