Solana price mystery: is it a bull market relay or a precursor to a bear market?
Recently, Solana's price has risen quite a lot, and everyone guessed that it could soar to more than $170. Although the trading volume has not changed much, the buying is particularly strong, pushing the price above $160. However, the selling has started to show its strength recently, trying to pull the price back below $140.
So, will Solana's price fall to the key support level of $133? Is the selling really stronger than the buying?
From beginning to end, Solana's price has been quite stable, and every time it falls, someone protects it from falling below $120, so the rise does not seem to be over. But the technical side shows that this coin may linger in a small range for a while, and it will take some time to rush to $160 again.
Buyers saw that Solana's price was unstable and rushed in to stabilize the situation, but they were not strong enough and failed. The trading volume is still decreasing, which means that the price may have to fall further to that support level. However, there is good news. The relative strength index RSI shows signs of rebounding, but the price has to go up and close above $148 to count.
In general, Solana's price is now like a fog, with buyers and sellers evenly matched and neither has the upper hand. To prevent the price from falling further, the $140 mark must be maintained. But if the price can reach above $150, the sellers may not be able to sit still, and they will have to wait until the price soars to the $160 to $165 range before they will suppress it again. Therefore, Solana's price trend is still unclear. It may rebound or continue to fall.
