Solana Price To Face Reversal From $150 As Death Cross Closes In 🔀
Solana (SOL) is at a crucial juncture, as it fails to secure the $148 support level despite an 11% rise over the last four days. Bearish signals persist, with indicators hinting at a reversal under $150. Market sentiment is mixed, with network activity lacking substantial growth, as reflected by a 5-month NVT Ratio high.
The filing of a spot SOL ETF by Fidelity has sparked optimism without yielding significant network advancement. Technical indicators pose additional challenges, with an imminent Death Cross threatening to end the long-lasting Golden Cross pattern, potentially affecting SOL's price further downwards.
Currently, at $142, Solana struggles to breach the $148 resistance level. A predicted pullback could see prices drop to $135 or $125, stymieing recent gains. However, improved market cues may help SOL surpass $148, aiming for potential recovery to $161.
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