Key Points:

• SOL dropped 5% from its peak, finding stability near $140.46 despite a 1.41% reduction in the last 24 hours after a sharp decline.
• The price fluctuated between $135.96 and $142.91 while exhibiting a bullish reversal pattern, confirmed by high trading volumes near $140.40.
• Overcoming the resistance level of $142.65 is crucial for a potential upward movement.

Market Overview:

Solana’s token, SOL, is currently trading around $140.46 after notably declining from $142.91 to $135.96. As of now, it is witnessing a consolidation trend with established support at $140.40. Analysts depict a divided outlook, with some predicting a rise towards $200, while others anticipate a retracement within a range of $123-135.

Technical Insights:

• The SOL price pattern indicates a downtrend with lower highs and lows, with current volatility stemming from continued trading pressures.
• Heavy selling activity was noticed during certain trading hours, indicating a cautious market sentiment.

Disclaimer:

Parts of this content were generated with the assistance of AI tools, with subsequent oversight to ensure adherence to editorial standards.