Solana is currently hovering around $181. This article examines current metrics of the cryptocurrency and possible scenarios for its market behavior.
Current Solana Metrics
Currently, Solana (SOL) trades at approximately $181.01, with a market capitalization of $97.32 billion. The daily trading volume has increased by 17.36% to reach $6.02 billion. High market volatility is observed, with liquidations totaling $32.31 million.
Technical Indicator Analysis
The four-hour technical analysis indicates that the MACD line is below the signal line, signaling strong bearish momentum. The Chaikin Money Flow (CMF) indicator, recording a value of 0.02, points to moderate buying pressure. This shows a weak but active accumulation in the market.
Short-Term Outlook
The SOL price may face a sharp pullback and test the nearest support at $180.93. If bearish momentum strengthens, this could trigger the death cross and drive the price below $180.85. Conversely, if bulls regain momentum, the price could rise toward the $181.09 resistance.
The Solana price exhibits high volatility with price fluctuations, creating uncertainty in the market. Both upward and downward price movements are possible, depending on the direction of trend movements.
