According to CryptoPotato, Solana's impressive performance appears to have come to an end as the market shifts. The cryptocurrency lost momentum after reaching a resistance level at $67, where it was rejected by sellers. As a result, the uptrend that began in mid-October seems to have concluded.
The daily MACD moving averages have recently experienced a bearish cross, indicating that sellers have returned to the market. If buyers do not re-enter, Solana could potentially fall back to its current support level of $44. Additionally, the bearish divergence observed last week has been confirmed, with the price failing to make higher highs and now entering a correction phase. Until the daily RSI makes higher highs, the bias remains bearish.
The current outlook for Solana is bearish, and with the uptrend lost, the cryptocurrency is seeking support. The $44 level is a strong candidate for support, as it has a high likelihood of attracting buyers once again. If support is found, Solana could potentially resume its upward trajectory.
