Solana finds itself at a critical juncture as it trades at its lowest levels since September 2024. Dominated by extreme fear and sell-off pressure, SOL has plummeted over 55% since its January peak. The broader market's uncertainty has hit Solana hard, with meme coin speculation, once a driving force, now acting as a hurdle.
Top analyst Jelle's technical analysis suggests further declines, noting Solana's breach of crucial demand levels. With sentiment at extreme lows, the coming week is crucial for Solana. Regaining lost support is vital to avoid further selling pressure and potential declines to the $140 mark.
If bulls manage to push the price back above $185, a short-term relief rally may occur. Yet, with the market's bearish lean and investor caution, Solana faces volatility and uncertainty. Investors await signs of recovery, while bearish momentum prevails.
