Solana is under mounting selling pressure, sliding its price further into a correction phase. After struggling to maintain upward momentum, SOL has been steadily retreating, now approaching the crucial $164 support level. This key zone will determine whether the cryptocurrency finds stability or extends its downward trajectory.<\/p>\n
Market indicators suggest that bears remain in control, with momentum<\/a> shifting in favor of sellers. If Solana fails to hold above $164, it could open the door to even deeper losses. However, if buyers step in to defend this level, it would trigger a price reversal. Will SOL stabilize and recover, or is a larger correction on the horizon<\/a>?<\/p>\n Recent price action reveals that SOL is grappling with persistent bearish pressure<\/a> as its price struggles to maintain upward momentum. Following a series of failed attempts to break through key resistance levels, the cryptocurrency has seen a gradual decline, pushing it into a deeper retracement toward $164.<\/p>\n Technical indicators strongly back the bearish outlook for Solana, with one of the key signs being its price trading below the 100-day Simple Moving Average (SMA). The fact that SOL is trading below this important threshold highlights the dominance of the bears in the market,<\/a> making it more likely that the downward pressure will continue unless significant buying interest emerges.<\/p>\n In addition to this, another key indicator<\/a> reinforcing Solana\u2019s bearish outlook is the Relative Strength Index (RSI), which is currently positioned at 25% in the lower territory. At 25%, the cryptocurrency is in the oversold zone, indicating strong selling pressure and a market dominated by bears.\u00a0<\/p>\n While this suggests SOL could be undervalued in the short term, it also implies that the upward trend is losing momentum. Combined, these indicators paint a picture of a market struggling to find support. With the 100-day SMA holding as a crucial resistance<\/a>, Solana may face further declines unless there\u2019s a reversal in market sentiment or a breakout<\/a> above key resistance levels.\u00a0<\/p>\n Solana\u2019s market outlook remains highly dependent on its ability to maintain the crucial $164 support level. This level has proven to be a key battleground for bulls<\/a> and bears, and its strength or weakness might set the stage for the next significant price movement. Should selling pressure persist and a breakdown<\/a> below this level occurs, a bearish trend toward the next support<\/a> zones, such as $137 or even $118 for SOL is likely.\u00a0<\/p>\n However, if Solana can defend the $164 support and generate a strong rebound, this may indicate that the selling momentum is slowing down and that the bulls could be ready to step in. A successful hold at this level hints at a relief rally<\/a>, pushing the altcoin back toward key resistance levels like $240 and $260.<\/p>","protected":false},"excerpt":{"rendered":" Solana is under mounting selling pressure, sliding its price further into a correction phase. After struggling to maintain upward momentum, SOL has been steadily retreating, now approaching the crucial $164 support level. This key zone will determine whether the cryptocurrency finds stability or extends its downward trajectory. Market indicators suggest that bears remain in control, […]<\/p>\n","protected":false},"author":0,"featured_media":45161,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-45160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/45160"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=45160"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/45160\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/45161"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}SOL\u2019s Battle With Bearish Momentum<\/h2>\n
Solana\u2019s Market Outlook: $164 Support Level To Determine Next Price Action<\/h2>\n