Solana (SOL) has shown resilience in the crypto market but now trades around $143 after a significant price drop from above $280. With mixed technical indicators, traders are questioning whether the downtrend has ended or will continue.
Solana Price Prediction: Is Solana Finding a Bottom After Its Recent Decline?
SOL/USD Daily Chart- TradingView
Since reaching a peak of $280, Solana has entered a downtrend, recently bouncing off a key support level near $140. Despite this, the bearish structure with lower highs and lows persists.
What Do the Indicators Suggest?
The Relative Strength Index (RSI) is at 26.76, indicating oversold conditions that suggest a potential bounce. However, no bullish divergence is present, indicating the lack of clear momentum shift to the bulls.
Can SOL Price Break Above Key Resistance Levels?
For recovery, SOL must break resistance around $160-$165 and eventually $190-$200. Failure to reach these levels may signal further downward movement.
Will Solana Price Drop Below $140 If Weakness Continues?
Key support at $140 is crucial; a close below could lead to declines toward $120 or $100. Continued bearish momentum may trigger another leg down.
Solana Price Prediction: What’s Next?
Currently, SOL is at a critical point. While oversold conditions indicate a possible short-term bounce, the overall trend remains bearish. Traders should look for signs of recovery before making decisions, as failure to reclaim resistance levels could lead to more selling pressure.
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