Will SOL price fall to the critical support level at $133? Has the bullish effect of the currency faded?
The graphic in the image shows that the SOL price has formed a double bottom pattern, which indicates bearish signals. On the other hand, the DMI levels are parallel to each other, which indicates decreasing activity for both bears and bulls.
Therefore, it is believed that Solana price will maintain the consolide trend for some time and will eventually test the temporary lower support at $133 in the coming days.
As the bulls failed to rise above $155 to $158 several times, their weakness may pave the way for the bears to lower the price. However, the bulls have maintained the lower support on each bearish case and hence a similar bounce can be expected, which could take Solana price back to $158.
However, breaching this barrier completely depends on market sentiment and buying pressure expected to rise by then
