SOL faces strong resistance at $146.44, with weak support at $142 and $140.
Decreasing trading volume signals caution, raising risks of further downward pressure.
RSI at 46.55 and MACD trend indicate continued bearish sentiment for Solana.
The price of Solana (SOL) has fallen to $141.74 after a 3.2% drop in the last 24 hours, leading investors to question whether the cryptocurrency has reached its bottom. Technical indicators also present mixed signals on SOL’s future price action.
Traders are closely monitoring Solana’s price action for signs of a potential reversal or further decline.
SOL Price Trend and Market Activity
Solana’s price trend shows weakening momentum. After reaching a high of $146.44, the price started falling, showing a loss in bullish strength. Despite some upward movement, SOL has struggled to hold gains, falling back toward the $142 mark.
Read also: Analyst Says SOL Will Hit 20% of ETH’s Market Cap in Next Bull Rally
Source: Coinmarketcap
Significantly, trading volume has decreased by over 20%, suggesting a slowdown in market activity. This decline suggests that traders are becoming more cautious, which could cause further…
The post Solana Price Dips Below $142: Is This the Bottom for SOL? appeared first on Coin Edition.
