Solana Faces Bearish Pressure as Death Cross Signals More Downside Risks

Solana (SOL) remains under selling pressure as a key technical indicator, the death cross, signals further downside risks. This bearish pattern occurs when the short-term moving average dips below the long-term moving average, historically confirming a prolonged downtrend.

Following the recent death cross, Solana’s price dropped sharply, struggling to maintain critical support levels. Currently, SOL trades around $133, attempting a slight recovery. However, upside potential is limited, with strong resistance at $146 and $173 acting as barriers to further growth. If SOL fails to hold current levels, it could slide toward $120, potentially deepening its decline.

Market momentum remains weak, with buying pressure unable to counteract the ongoing bearish trend. For Solana to regain bullish momentum, it needs a surge in volume and positive sentiment. Until then, traders should closely watch key resistance levels and wait for a decisive breakout. The death cross continues to weigh on investor confidence, making a sustained recovery challenging in the short term.