$SOL
The price of Solana is currently experiencing notable fluctuations, reflecting a state of anticipation and uncertainty prevailing in the market.
The Relative Strength Index (RSI) reading indicates increasing selling pressure, which may drive the price towards overbought areas.
At the same time, the Moving Average Convergence Divergence (MACD) shows significant volatility, making it more challenging to determine a clear market direction at this time.
Looking at support and resistance levels,
the $120 area can be considered strong support,
and if broken, we may see a decline to $110.
On the other hand, the $140 area represents a key resistance, and breaking through it could open the door for a rise towards $150 or higher.
There are equal opportunities for upward and downward movement. In the case of improved market sentiment and increased trading volumes, we may witness a breakout above the resistance at $140, pushing the price towards $150 or higher.
However, if uncertainty continues and selling pressure increases, we may see a decline to the support level at $120, and breaking it could lead to a drop towards $110 or lower.