Solana Price Update: Is a Drop to $130 Coming?
Solana (SOL) is currently trading at $153.61, and several technical indicators are showing signs of weakness.
While a short-term bounce is possible, the overall trend looks bearish.
🔻 RSI Shows Oversold Conditions
The Relative Strength Index (RSI) shows that Solana is in the oversold zone, which usually means the price could bounce slightly.
A move up to around $160 is possible to ease the selling pressure.
Death Cross on the 4-Hour Chart
A Death Cross is forming on the 4-hour chart. This happens when the short-term moving average crosses below the long-term one — a strong bearish signal that could lead to more downside.
MACD Confirms Bearish Momentum
The MACD indicator is also showing a bearish crossover, meaning the downward trend is gaining strength, and more selling pressure could follow.
Price Outlook: Could Solana Drop to $130?
If the bearish trend continues and Solana fails to break above key resistance, the next support is around $130. This level could act as a potential bounce zone.
Final Thoughts
Solana may see a short bounce toward $160, but if the bearish signals remain strong, a drop to $130 is likely.
Keep watching the RSI, MACD, and chart patterns for more clues on the next move.
Stay tuned for more simple and clear market updates!
Join my Telegram channel for daily trading signals - 100% free!
👉 Link: https://t.me/bwtinternational
Comments
Post a Comment