Solana Approaches $164 Support Amid Deepening Bearish Trend

Solana (SOL) is experiencing selling pressure, with its price approaching the critical support level of $164. Key observations include:

• SOL has been unable to maintain upward momentum, leading to a gradual decline.
• Trading below the 100-day Simple Moving Average indicates bearish market control.
• The Relative Strength Index (RSI) is at 25%, signaling strong selling pressure and an oversold condition.
• Maintaining the $164 support level is crucial; failure to do so could lead to further declines toward $137 or $118.
• A rebound above $164 may suggest reduced selling momentum, potentially triggering a rally towards resistance levels of $240 and $260.