Solana sits at a critical resistance level of 147 USD. Bearish indicators on the chart could lead to a drop below the 141 USD support level.
Traders currently favor short positions, with 78.42 million USD in shorts compared to 53.97 million USD in longs, reflecting pessimism in market sentiment.
While some analysts believe SOL could reach between 169 to 420 USD long-term, current trading volume has decreased significantly, indicating uncertainty in the market.
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