Solana’s Price Faces Bearish Pressure
Solana‘s price has taken a 7% tumble in the past 24 hours, raising concerns about the sustainability of its uptrend. With bears dominating the market, the key support level to watch is $78.
- Key Support Levels: $78
- Key Resistance Levels: $104
Bearish Momentum Intensifies
Buyers have been unable to halt Solana’s decline, and the selling momentum has intensified in recent days. This is evident in the momentum indicators, such as the MACD and RSI, which are making lower lows.
MACD Indicates Lower Lows
The 3-day MACD histogram is making lower lows, and the moving averages are expanding as they fall. This is a bearish sign, and a recovery seems unlikely at the moment.
The bias for Solana is bearish, and the short-term prediction for its price is uncertain. The most important level to watch is the support at $78. It remains to be seen whether the bears will be able to push the price down to this level.
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