Is the SOL Bull Market Over? Three Things to Consider Today (Solana Price Analysis)
Solana's spectacular performance has come to an end - or at least that's how the market looks at the time of this writing. Key Support levels: $44 Key...
- Solana faced resistance at $67 and was rejected by sellers, leading to a loss of momentum.
- Bears have taken over, indicating the end of the uptrend that started in mid-October.
- The daily MACD moving averages crossed bearishly, confirming the return of sellers.
- If buyers do not return, Solana could fall back to its current support level at $44.
- The bearish divergence spotted last week has been confirmed, with the price failing to make higher highs.
- The bias remains bearish until the daily RSI makes higher highs.
- Solana is now in search of support, with $44 being a strong candidate to attract buyers.
- Once support is found, there is potential for Solana to move higher again.
The sentiment in the article is bearish, indicating a negative outlook for Solana. The resistance at $67 and the bearish cross of the MACD moving averages suggest a shift in momentum towards sellers. The article highlights the potential for a correction and a fall back to the support level at $44.