Sentiment towards Solana in the cryptocurrency market has declined significantly in recent days. However, there are some possibilities that the current sell signals may be invalid. In particular, Solana’s [SOL] price volatility has remained low over the past week, with limited movements observed on both daily and weekly charts.

According to CoinMarketCap data, Solana’s price has decreased by only 1% over the past seven days. Currently, SOL is trading at $142.28, making it the fifth-largest cryptocurrency by market cap, exceeding $66 billion. Despite this small decline, there is one development that famous crypto analyst Ali has noted: a sell signal has been detected on Solana’s 4-hour chart, which could signal a possible price correction.

In-depth analysis of Santiment data supports the bearish trend on SOL; Weighted Sentiment has decreased, indicating increasing negative sentiment among investors. Also, according to data reported by Coinglass, a decrease in the long/short ratio of SOL has been observed, indicating an increase in short positions compared to long positions. Such a situation usually reflects a bearish stance in the market.$SOL

However, there are some positive indicators that suggest that Solana is potentially on the verge of a bearish reversal. For example, Solana’s Funding Rate has fallen. Market prices are known to often move inversely to the Funding Rate, which could signal a potential price increase. Additionally, the Fear & Greed Index, currently at 38, can sometimes signal market fear that heralds a price increase. Previous reports from COINOTAG have indicated minimal selling pressure on Solana, which could be considered a bullish sign.

Solana’s daily chart highlights several key market indicators. The Bollinger Bands show that SOL is currently testing the 20-day Simple Moving Average (SMA). The MACD also points to the possibility of a bullish crossover. If this happens, SOL could cross the 20-day SMA to target $163 and potentially move toward $186. However, if bearish sentiment prevails in line with the current sell signals, SOL could drop to the next support level of $129.

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