Solana (SOL) finds itself in a precarious position with its price movement reflecting a bearish trend, unable to overcome the $200 resistance.
Investor interest in Solana has waned, with network activity dropping to a five-month low. This lack of momentum comes as key technical indicators, like the Relative Strength Index (RSI), show bearish momentum dominating the price action.
The price recently broke below the ascending wedge pattern, and continued downward pressure could push it lower.
However, if support at $183 holds, a rebound toward $201 might be possible if broader market conditions improve.