The cryptocurrency market continues to show bearish tendencies, and Solana is no exception. Recent data indicates that the asset has dropped 4% in price.
Current Price and Liquidations of Solana
Solana (SOL) has registered a decline of over 4.52% in the last 24 hours, falling to a price level of $159. A total of $13.22 million in liquidations have occurred in SOL, indicating challenging market conditions.
Possible Scenarios for Solana
Given the current bearish sentiment in the market, it may be that Solana will revert to previously recorded support levels. If further declines occur, the price might test the support at the $159.40 level.
Indicators and Market Trends
Indicators such as MACD and RSI are signaling diminishing upward strength and selling pressure. The RSI value is at 44.06, indicating neutrality. However, bears are in control of the market.
At this moment, Solana is experiencing pressure from the bears. It’s important to monitor developments, as the market may continue to fluctuate, with various scenarios for future price movement.
