Solana: Send Back Below To Downtrend — EMA200 Stopped Bleeding
Solana showed an incredibly strong performance in July and (finally) broke out of its downtrend that started in March.
Unfortunately, SOL couldn't escape the overall sell pressure and was sent back to the downtrend two weeks after its breakout. Moreover, the charts look strongly bearish, with an M-shaped price action on the daily chart between May and today.
So far, the EMA200 has acted as strong support, similar to previous drops. If the support breaks, a further dip to $130 and $115 becomes likely.
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