Solana (SOL) price remains trapped within a bearish technical and could continue south unless bullish momentum returns to the market. The situation co
Increased selling momentum could see SOL test the channel's midline at around the $18.00 psychological level. In the dire case, Solana price could extend the slump to the channel's lower boundary at $17.29.
However, if it fails to hold as a support level, a slip-through would render it a bearish breaker, extending the losses for Solana price, potentially toward the support floor at $14.49.Liquidation data from Coinglass shows that the amount of long positions already liquidated is forty-five times that of shorts.On the flip side, increased buying pressure above current levels, marked by a breach of the channel's upper boundary, and Solana's price overcoming the 21-day EMA at $19.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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