Solana hits 75M active addresses as $SOL battles $132 level -AMBCrypto Analytics

The price of Solana has faced resistance around $132.47, with the Bollinger Bands narrowing, suggesting a possible breakout in either direction. Solana’s RSI sat at 42.07, showing weak momentum and hovering near oversold territory. This level indicated that bearish pressure may persist, but the price could see a reversal if buyers step in.

Additionally, the MACD formed a bearish crossover, confirming increasing selling momentum. If the bearish sentiment continues, Solana could test the lower Bollinger Band at $124.88. A break below this could push the price to the $120 support zone, while a reversal above $132.47 could lead to a test of the $140 resistance level. On the 18th of September, Solana saw $121.31K in short liquidations and $3.19M in long liquidations, indicating a more substantial impact on long positions.