With the emergence of a bearish trend, the price of $SOL has eight consecutive red candles after the evening star pattern at $190. The failed rebound destroyed the bottom reversal and fell below the 200-day moving average.

Currently, the SOL price is supported at the $120 mark, with an intraday decline of 12.53%, a further decline of 35%, and the daily RSI line touching the oversold boundary.

With its oversold nature, potential growth potential and optimistic long-term goals, Solana has become one of the must-buy altcoins in this crash

Optimistically, the SOL price may reach $500 by the end of this year. The short-term pressure range is 142.8~147.5, and the support range is 123~116.