solana‘s strong upward streak seems to have ended with the weakening of technical indicators. The price of SOL coin fell below the uptrend line from the April lows, falling to its lowest level since August. Market players agreed that this breakout could reverse the short-term momentum and increase selling pressure. All eyes are now on critical support levels, especially the $155 band, which corresponds to the 61.8 percent Fibonacci retracement line.
Technical Outlook Changed as Price Dropped Below Trend Line
LEFTWhile the break of the trend line carrying the uptrend weakens the bulls’ hand, successive lower tops and bottoms on the price chart reveal that the downtrend is gaining strength. MACD The indicator also moves into the negative zone, confirming that the sales momentum is increasing. Analysts state that a possible decline below $155 could trigger a new correction wave. A loss of this level could pull the price back towards the next support at $129.
on the market selling pressureWith the increase in TL, investor confidence has been damaged. Solana has experienced a strong recovery process since the second quarter of 2024, but increasing high-volume sales in recent weeks indicate that this momentum is over. Volatility increased again, especially as short-term investors closed their positions.
200 Day Average Critical Threshold
For technical analysts 200-day moving averageThe corresponding level of $180 is seen as the most important level that must be overcome for Solana to regain strength. Unless the price rises above this threshold, the downtrend is unlikely to reverse. Buying approaches may come to the fore again when the price breaks this level upwards.
From the perspective of the Solana ecosystem, although price fluctuations may cause short-term concern, the network’s transaction volume and developer activity remain strong in the long term. However, market dynamics do not ignore signals from technical indicators. Investors should act by closely monitoring the important support and resistance areas indicated at this stage.
