SOL has fallen below a key moving average, and downside risks remain!
#solana has pulled back from around $122, falling below the 50-day moving average at $107.13, with rebounds continuing to meet resistance. Both MACD and RSI point to weakness, but neither has entered oversold territory.
Watch the psychological $100 level first. A break below the 200-day moving average at $97.95 could lead to a further decline toward $83.50. For a rebound, SOL needs to reclaim $107.13. The short-term trend is weak, so manage your position size and be cautious about buying the dip.
#solana has pulled back from around $122, falling below the 50-day moving average at $107.13, with rebounds continuing to meet resistance. Both MACD and RSI point to weakness, but neither has entered oversold territory.
Watch the psychological $100 level first. A break below the 200-day moving average at $97.95 could lead to a further decline toward $83.50. For a rebound, SOL needs to reclaim $107.13. The short-term trend is weak, so manage your position size and be cautious about buying the dip.