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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. 

Solana Chart ( Source Coingecko)

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!

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