Since April 23, the Solana price has fluctuated in a narrow trading range, facing resistance near $ 153.67 and finding support is about $ 145.68.
An increasing wave of declining pressure threatens to break this range to the negative side, with a major technical index about to confirm a large sale signal.
Solana faces the risk of collapse while sellers tighten a fist
The Mediterranean Sol Index is preparing to spache the rapprochement (MACD) to form the death cross, which is a declining intersection as the MACD line decreases below the signal line.
As of the writing of this lines, the MACD line of the coin is located near the (orange) signal line, waiting for a catalyst to push it below. This pattern is often preceded by the continuous declining direction and traders are widely considered as a sign of poor price strength.
Moreover, the power balance in Sol (BOP) is currently negative, which enhances the declining direction. This indicates that the sellers have gained market control. At the time of the press, this stands at -0.12.
The BOP index measures the purchase force against the pressure pressure by comparing the closing price of the trading scope over a certain period.
When the BOP of the assets is positive, it indicates that buyers control, indicating a strong upward momentum and the possibility of continuing to earn prices.
On the other hand, as with Sol, the negative BOP value indicates that sellers dominate the market. It indicates an increase in the declining pressure on the Sol and hints when the start of a new decline stage begins.
Sol faces the main support test amid installation sale pressure
It also builds the landfill, Sol risks dividing the support level at $ 145.68. A decisive break below this threshold would confirm a short -term trend and may lead to a deeper decrease of about $ 142.32.
If buyers fail to regain control at that point, Sol can somewhat slide to test the low support at $ 133.94.
However, this hybrid view can be nullified if the new demand appears and the interest is purchased. In this upscale scenario, Sol may overcome the resistance at $ 153.67, and opened the door to a collection of about $ 171.50.
Disintegration
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