Will Solana fall to $85 again?
Solana (SOL) has seen a recent decline in trading volume and market sentiment, raising concerns about its price trend.
Current Market Conditions
SOL has managed to maintain its market dominance over the past week and is currently trading at $147.28, up more than 7% from seven days ago. However, analyst Ali noted that it is crucial to break through the $154 resistance level. If it fails to break through, SOL could fall back to $85, which could be a disaster for investors.
Bearish Signal
AMBCrypto's research shows that SOL's long/short ratio has fallen, indicating an increase in short positions in the market, which is a bearish signal. In addition, on September 21, SOL's inflow reached $48 million, and selling pressure rose.
Technical Indicator Analysis
SOL's Chaikin Money Flow (CMF) has fallen, suggesting that the price may pull back, but the MACD still shows a bullish trend, indicating buyer dominance. If the downturn continues, SOL has strong support at $144 and could hit $150 or even $156 after a rebound.
