Solana (SOL) achieved an 18% rise in the last 30 days but is now facing the risk of losing those gains. Attempts to breach the $160 mark have failed, and the cryptocurrency is close to dropping below the critical $150 support level, which could lead to a negative return.
The $153.10 price, coupled with historical patterns, suggests potential double-digit declines. Solana experienced similar drops in previous months, and indicators like the Bollinger Bands show a non-upward trend, hinting at a possible correction.
The Chaikin Money Flow, which measures volume and distribution, has also signaled increased selling pressure as it fell below the zero line. If the current trend persists, these signals indicate a likelihood of further declines in Solana’s price.
If Solana breaks the $150 level, it may fall by 10% to $136.07. However, maintaining this support could lead to a rebound towards $173. But failure to hold could see prices plummet to $125.02.
