Overview

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Hace 4 días There is a connecting bearish trend line forming with resistance at $176 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh Solana drops over 3% as it trades below the Ichimoku Cloud, signaling bearish momentum and weak short-term trend strength. DMI confirms sellers are in control Hace 1 día Bearish Long-Term Trend. The SOL price prevented a breakdown with a strong bounce in April. However, the long-term analysis remains bearish, indicating the Solana price Hace 34 minutos To summarize, the price of Solana is forming bearish signs as the daily timeframe chart shows that sellers are in control. As the momentum weakens, Solana may Solana’s EMA lines are converging and could soon form a death cross, a bearish technical signal where the short-term EMA crosses below the long-term EMA. If that Hace 3 horas Solana Faces Bearish Pressure as Funding Rate Turns Negative Again At -0.0015% at the time of writing, the OI-Weighted Funding Rate has once again fallen into Hace 4 días Solana is now trading below $180 and the 100-hourly simple moving average. There is also a connecting bearish trend line forming with resistance at $176 on the hourly

Solana (SOL): Is the Bearish Turn Back? Analysis & Outlook

Is Solana (SOL) facing another bearish downturn? Recent analysis suggests potential challenges ahead for the popular cryptocurrency. Several indicators point towards renewed selling pressure and weakening momentum.

Technical Indicators Signal Bearish Sentiment

Concerns are rising as Solana's technical indicators paint a potentially negative picture. Hace 34 minutos To summarize, the price of Solana is forming bearish signs as the daily timeframe chart shows that sellers are in control. As the momentum weakens, Solana may... This suggests a possible continuation of downward pressure.

Hace 4 días Solana is now trading below $180 and the 100-hourly simple moving average. There is also a connecting bearish trend line forming with resistance at $176 on the hourly... indicating immediate resistance levels to overcome. Hace 4 días There is a connecting bearish trend line forming with resistance at $176 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh... correction if these levels are not breached.

Adding to the concerns, Solana drops over 3% as it trades below the Ichimoku Cloud, signaling bearish momentum and weak short-term trend strength. DMI confirms sellers are in control. This reinforces the idea that bears are currently dominating the market.

Death Cross Looms?

One particularly worrying sign is the potential formation of a death cross. Solana’s EMA lines are converging and could soon form a death cross, a bearish technical signal where the short-term EMA crosses below the long-term EMA. If that... happens, it could further exacerbate the downward trend.

Long-Term Bearish Trends Persist

While a bounce was seen in April, the overall long-term outlook remains cautious. Hace 1 día Bearish Long-Term Trend. The SOL price prevented a breakdown with a strong bounce in April. However, the long-term analysis remains bearish, indicating the Solana price... faces significant headwinds. The market needs to see sustained upward momentum to reverse this trend.

Funding Rate Turns Negative

Sentiment towards Solana is also reflected in the funding rate. Hace 3 horas Solana Faces Bearish Pressure as Funding Rate Turns Negative Again At -0.0015% at the time of writing, the OI-Weighted Funding Rate has once again fallen into... negative territory, suggesting that more traders are betting against SOL than are betting on it.

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Cryptocurrency investments are highly volatile and risky. Always do your own research before investing.

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