Solana's Struggle is Real: Can it Regain Momentum❓❓❓
$SOL has dropped 14% in the past week, struggling below key support levels. The 50-day MA has crossed below the 200-day MA, forming a bearish "death cross." However, the RSI suggests SOL is nearing oversold territory, indicating potential buying opportunities.
For SOL to recover, it needs to reclaim key resistance levels around $25. Broader market stability and development of the Solana ecosystem could also boost investor confidence. Despite this, caution is advised due to the current downtrend.
Key points:
- SOL has dropped 14% in the past week
- Bearish "death cross" formed with 50-day MA below 200-day MA
- RSI suggests SOL is nearing oversold territory
- Recovery depends on reclaiming key resistance levels and broader market stability
DYOR / NFA
