Solana (SOL) remains in consolidation, having seen a 2.7% decline in the last week. Current indicators like the BBTrend and DMI reflect weak momentum, with the BBTrend at a slightly positive 0.14 and ADX showing low readings at 12, indicating unclear trend directions.
SOL’s EMA lines suggest a bearish setup, lacking dominant downtrends. Important levels are $183 support and $194 resistance, key to determining SOL’s potential breakout or continued consolidation in the near term.
The BBTrend, although positive, reflects subdued strength, suggesting moderate recovery from previously negative levels but not enough for stronger rallies. It reflects limited selling pressure matched by a lack of buying activity, maintaining the consolidation.
The DMI chart reveals an ADX under 20, marking weak trend strength. This points to an undecided market with directional indicators remaining close. There's slightly more selling pressure, reflected in D- exceeding D+. These signal Solana's ongoing consolidation phase as the market awaits a clearer trend or reversal.
If the downtrend strengthens, SOL may test support at $183; failure here could hint at drops toward $175, signaling more bearish trends. Conversely, regained momentum might challenge the $194 resistance. Surpassing it could lead to $201 tests, with further rises possible to $215.
