Solana Faces Downside Pressure After Breaking Key Support Level
Solana (SOL) is experiencing downward pressure after failing to break the $158–$159 resistance. Key developments include:
- Sellers dominated at 13:00, with volume surpassing 1.1 million, leading to a breach of the $153.10–$153.30 support zone.
- The price declined from $154.53 to $151.89, marking a 1.7% intraday drop.
- Current trading is just above $153, following a slight recovery.
- Analysts indicate further declines may occur unless SOL reclaims the $153.30 level.
- The psychological support at $150 is now critical for market stability.
- Strong resistance at $158–$159 triggered a 4.48% decline.
- Recent trading shows lower highs and increased selling volume, indicating ongoing short-term bearish trends.
- A close above $153.30 is necessary to suggest potential trend stabilization.