Solana Trading at Lowest Price Since September 2024 Amid Selling Pressure

Solana (SOL) is currently trading at its lowest price since September 2024, with a decline of over 55% in less than six weeks. This downturn has erased gains from a previous rally and raised concerns about a prolonged downtrend.

Key points include:

Panic in the market as traders fear further declines.
Attempts to reclaim momentum have failed, allowing bears to dominate.
Analyst Ali Martinez indicates a potential shift from bullish to bearish trends.
Current trading range for Solana is between $120 and $220.
If SOL falls below $120, it risks entering a bear market.
Sell-off pressure remains significant, impacting attempts to establish support.
Critical levels to watch: reclaiming $160 could restore bullish sentiment.
A consolidation phase around $120-$140 may precede any recovery.

Investors are closely monitoring Solana’s performance to determine whether it can stabilize or if further declines will occur.