🚀Cointelegraph: Solana price analysis
The bulls are finding it difficult to push Solana above the 50-day SMA ($150), indicating that the bears are unwilling to give up.
The SOL/USDT pair could remain stuck between $116 and the 50-day SMA for some time. If the price skids below $116, it will complete a bearish descending triangle pattern. That may start a downward move to $100 and later to $80.
Instead, if the price turns up and breaks above the 50-day SMA, it will signal the start of a relief rally to the downtrend line. The bears will try to stall the recovery at the downtrend line, but if the buyers bulldoze their way through, it will invalidate the bearish setup.
