Solana Faces Steep Decline as Key Support Levels Break

Solana (SOL) is showing strong bearish signals, with market indicators suggesting a deeper correction is underway. The cryptocurrency has fallen below both the 50-day and 100-day Exponential Moving Averages (EMAs)—traditionally reliable support zones—indicating a breakdown in midterm bullish momentum. Currently trading around $152, SOL has slipped beneath the critical $155–$160 range, which previously served as a solid base reinforced by moving average convergence.

This technical breach now flips prior support into resistance, undermining recent bullish structures. The next significant support appears to be the psychological $100 level, implying a potential 35% drop from current prices. Adding to the bearish sentiment, trading volume has risen slightly during the decline, suggesting the move is not a short-term correction but rather the beginning of a sustained sell-off.

Technical indicators like the Relative Strength Index (RSI) are trending downward, approaching oversold territory—another red flag pointing to increasing seller dominance. Losing the 100 EMA near $158 is especially concerning, as it often serves as a last defense against major trend reversals.

Wider market dynamics aren’t favorable either. As Bitcoin dominance rises and Ethereum continues to attract capital, Solana risks entering a short-term downtrend, isolated from broader altcoin rallies. Unless SOL can swiftly reclaim and hold above $160 with strong volume, the probability of a continued slide toward $100 increases significantly.

Traders and investors should monitor volume and resistance levels closely. A decisive move above $160 could signal recovery, but until then, caution is warranted. With momentum fading and technical support eroding, Solana faces its most serious correction in months.