$SOL slumps: Expert claims whale tricks behind the drop - AMBCrypto Analytics

According to expert technical analysis, SOL looks extremely bearish and was trading below the 200 Exponential Moving Average (EMA) on a daily time frame.

Apart from this, it has also experienced a major breakdown of crucial support levels. However, the daily candle closing will be important for SOl to determine whether it will continue to fall or we may see a reversal.

If SOL closes a daily candle below the $122 level, there is a high possibility it could fall another 30% and reach the $77 level in the coming days.

Meanwhile, if SOL closes a candle above $122, there is a high chance of a potential price reversal to $155 in the coming days.

Despite the Solana price prediction, the technical indicator Relative Strength Index (RSI) is in the oversold area, potentially signaling a price reversal.

However, the SOL’s open interest dropped by 26%, which signals lower interest from investors in this market crash.