Solana Faces Short-Term Pullback Signal Amid Price Recovery
Solana is testing key resistance levels, showing potential signs of recovery after a 48% surge since April 7. However, the broader crypto market remains volatile due to macroeconomic uncertainties and US-China trade tensions. Investor sentiment is cautiously improving, raising hopes for a recovery rally among altcoins.
Key points include:
- Solana has faced significant selling pressure, losing over 65% of its value since January.
- A TD Sequential sell signal on the 12-hour chart indicates a possible short-term pullback.
- Price must hold above $150 for a breakout; failure could lead to consolidation between $130 and $120.
- If SOL drops below $120, it may face deeper losses with $100 as the next support level.
Market participants are closely monitoring Solana's ability to maintain support above current levels amid mixed signals of recovery and potential risks.
