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<p>According to crypto analyst Alan Santana, <a href="https://www.tradingview.com/chart/SOLUSDT/JdO0LK6l-Solana-Are-You-Still-Bullish/" target="_blank" rel="noopener noreferrer nofollow">Solana (SOL) is facing bearish pressure,</a> with the price action pointing toward a potential decline. Santana’s analysis reveals that Solana is trading around $137, but key Fibonacci retracement levels suggest that SOL could fall further, potentially reaching support levels around $100 or even as low as $65.</p>
<h2 class="wp-block-heading" id="strong-fibonacci-levels-signal-bearish-outlook-strong"><strong>Fibonacci Levels Signal Bearish Outlook</strong></h2>
<p>The chart provided by Santana highlights critical Fibonacci retracement levels. These levels, with the 0.618 level at about $100 and the 0.786 level at about $65, suggest potential places of support for Solana’s price. These are crucial to keep an eye on since <a href="https://captainaltcoin.com/solana-price-update-key-levels-to-watch-for-the-next-move/" target="_blank" rel="noopener noreferrer nofollow">SOL’s price</a> is still showing indications of decline.</p>
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcJ3boEFVoHcPVeyRtpU4n5ZUzXYoHRrIXDr97wEkb1FMvMxaU3DMtgw2c_dXgALzGRrf9m-4OEa96Gai1GrJ8JwDRNJTyHug1AL08zrGSkXtPtdEVJ0_4VdB67T-tOP4ON0UW8oEHhWTdrb6Sjkys4s14?key=eXLDvYw7HP0QgcWLDVsiow" alt="">
 <figcaption class="wp-element-caption"><strong><em>Source: </em></strong><a href="https://www.tradingview.com/chart/SOLUSDT/JdO0LK6l-Solana-Are-You-Still-Bullish/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Alan Santana</em></strong></a>
 </figcaption>
</figure>
<p>The chart’s direction, reinforced by a red arrow pointing to lower price ranges, supports Santana’s view of an ongoing correction phase. He suggests that without a reversal in market momentum, Solana could test these support zones soon.</p>
<h2 class="wp-block-heading" id="strong-declining-volume-hints-at-bearish-control-strong"><strong>Declining Volume Hints at Bearish Control</strong></h2>
<p>Santana’s analysis also points to a concerning shift in volume patterns for Solana. Earlier in the year, the market saw larger green candles accompanied by strong buy-side volume, which indicated bullish sentiment.&nbsp;</p>
<p>However, recent trading sessions show smaller candles and increasing red volume bars, signaling rising sell-offs. The analyst points out that high red volume indicates increasing selling pressure, as large players seem to be exiting the market.&nbsp;</p>
<p>This lack of buying interest, despite <a href="https://captainaltcoin.com/robert-kiyosaki-predicts-bitcoin-price-is-about-to-explode-here-are-his-reasons/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s recent upward movement,</a> further supports the argument that Solana may continue to experience downward price action.</p>
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<p><strong><em>Read also: </em></strong><a href="https://captainaltcoin.com/robert-kiyosaki-predicts-bitcoin-price-is-about-to-explode-here-are-his-reasons/" target="_blank" rel="noopener noreferrer nofollow"><strong><em>Robert Kiyosaki Predicts Bitcoin Price Is About To ‘Explode’ – Here Are His Reasons</em></strong></a></p>
<h2 class="wp-block-heading" id="strong-absence-of-bullish-volume-raises-concerns-strong"><strong>Absence of Bullish Volume Raises Concerns</strong></h2>
<p>Santana also emphasizes the absence of bullish volume. In his view, this missing green volume is necessary for any potential price recovery.&nbsp;</p>
<p>The market appears to be in a correction phase, and the lack of buy-side interest could keep Solana vulnerable to further price declines.&nbsp;</p>
<p>He adds that until a strong green candle forms with substantial volume, investors should remain cautious, as the current price action indicates the bears are in control.</p>
<p>Despite Bitcoin’s performance, <a href="https://cryptopotato.com/this-is-how-liquid-staking-could-fuel-mass-adoption-and-growth-on-solana-report/" target="_blank" rel="noopener noreferrer nofollow">Solana</a> has not responded positively, suggesting that altcoins like SOL may still be under bearish pressure. Santana emphasizes that if Solana falls to the anticipated levels of $100 or $65, investors may suffer losses if they fail to manage their risk appropriately.</p>
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<p>The post <a href="https://captainaltcoin.com/bearish-pressure-on-solana-sol-price-analyst-warns-of-potential-drop-to-100/" rel="noopener noreferrer nofollow">Bearish Pressure on Solana (SOL) Price: Analyst Warns of Potential Drop to $100</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bearish Pressure on Solana (SOL) Price: Analyst Warns of Potential Drop to $100

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