💥 According to U.Today: $SOL Is In Trouble

Recent price action for Solana raises some questions as it dipped below the $139 level, raising concerns among investors. However, the picture may not be as gloomy as it seems. The fall beneath this price point does not inherently spell out a prolonged bearish phase; in fact, it may be setting up for a resurgence. The decline brought SOL to a risky point, but market indicators suggest a recovery is within reach.

Historically, the $130 level has been a rallying point for Solana, characterized by a concentration of buying interest. It is at this juncture that the asset previously mustered enough strength to bounce back. 

At the press time, SOL is trading at:

- $135,39 on KuCoin exchange

- $135,43 on WhiteBIT exchange

-$135.40 on MEXC exchange

The declining trading volume accompanying the recent drop-off further supports the possibility of a turnaround. With fewer assets changing hands, the downward pressure begins to ease, creating terms for price stabilization and potential growth. Peering into the chart, there's a tangible optimism for SOL's future. If the $130 support holds strong, the stage is set for a climb.

The first resistance level to watch would be around $151.72, where SOL faced rejection during its last attempt to rise. Should the bulls punch through this ceiling, the next target lies at $167.75, a mark that has acted as both support and resistance in the past. Investors are now closely watching to see if Solana can reclaim its lost ground. With the current sentiment and technical indicators, the digital asset appears to be in a position to defy the immediate downtrend and march towards recovery.