Solana’s price has struggled recently, trading close to 205 USD, down 4.5% within 24 hours and 1% over the past week. Yearly gains remain strong at around 50%, but the considerable profit supply of 96.56% may indicate possible upcoming corrections.
Technical patterns reveal Solana is currently in an ascending wedge formation, typically linked to bearish momentum. To avoid a negative trend, a weekly closing above 217 USD is crucial; otherwise, the price may experience a decline towards 160 USD.
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