Solana to Face Critical Decision in May Amid Market Uncertainty

Solana is currently trading at critical levels after a volatile week in the crypto market, with analysts divided on its future. Some view recent movements as part of a broader bull cycle, while others suspect a potential bear phase.

Key points include:

Solana rebounded 54% from its April 7 low around $95, now trading near resistance levels.
Analysts anticipate a potential push above $160; however, downside risks remain high.
Since January, Solana has lost over 65% of its value, reflecting significant selling pressure.
Analyst Inmortal indicates that May will be crucial for determining Solana's market direction.
Current price action at $146 shows a 6% decline since Friday, with bulls needing to reclaim the $180 level to regain bullish momentum.
Failure to hold the $140 support could lead to deeper corrections below $100.

The upcoming weeks are pivotal for Solana and may influence the entire altcoin sector as macroeconomic uncertainties persist.