As Solana nears the 140 USD support zone, mounting selling pressure has caused a drop of over 20% since its 30-day high. The declining open interest in derivatives, along with increased bearish sentiment, suggests that traders are anticipating further price declines ahead.
Technical indicators, such as the Relative Strength Index and MACD, signal a potential slowdown if Solana breaks below 140 USD. The current bear trend could lead to a correction towards 105 USD, unless there is a significant recovery which might face resistance around 162 USD.
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