Solana is under the pressure of the escalating sale, and its price slides to a correction stage. After struggling to maintain an upward momentum, Sol had declined steadily, now approaching the level of decisive support of $ 164. This main area will determine whether the cryptocurrency will find stability or extending its landmark.
Market indicators indicate that the bears remain in control, with momentum turning in favor of the sellers. If Solana fails to seize $ 164, the door may be opened for deeper losses. However, if buyers enter to defend this level, it will lead to a price reflection. Will Sol settle and recover, or is it a greater correction on the horizon?
Soul battle with a declining momentum
The recent price procedures reveal that Sol is struggling with continuous declining pressure, as prices are struggling to maintain ascending momentum. After a series of failed attempts to break the main resistance levels, the cryptocurrency witnessed a gradual decrease, prompting it to a deeper decline in about $ 164.
Technical indicators are strongly due to Solana's homa expectations, where one of the main signs is the trading of price without a simple moving average for 100 days (SMA). The fact that Sol is trading without this important threshold highlights the dominance of bears in the market, which makes it likely that the declining pressure will continue unless the important purchase interest appears.
In addition, the other main indicator that enhances Solana's drops is the RSI index (RSI), which is currently being placed 25 % in the lower area. By 25 %, the cryptocurrency is in the sale area, indicating a strong sale and a dominant market.
While this indicates that Sol can be less than its short -term value, it also means that the upward trend loses momentum. Completely, these indicators draw a picture of a struggle market to find support. With a SMA contract for 100 days as a decisive resistance, Solana may face an additional decrease unless there is a reflection of market morale or a higher collapse than the main resistance levels.
Solana market expectations: $ 164 support level to determine the following price procedure
Solana market expectations still depend on its ability to maintain the level of decisive support of $ 164. This level has proven that it is a major battlefield for bulls and bears, and may pave its power or weak way to the following important price movement. If the pressure continues to pressure and a lower collapse occurs from this level, there is likely to be a declining trend towards the following support areas, such as $ 137 or even $ 118 for Sol.
However, if Solana managed to defend $ 164 and generate a strong recovery, this may indicate that the momentum of sale slows down and that the bulls may be ready to intervene. Altcoin again towards the main resistance levels such as $ 240 and $ 260.
