Since April 23, the price of Solana$SOL has been moving in a narrow range: resistance is capped at $153.67, while support is at $145.68. However, increasing selling pressure is creating a dangerous situation. The MACD indicator for SOL is preparing to form a 'death cross': the MACD line (blue) is close to the signal line (orange), waiting for a catalyst for a decline. This pattern is considered a classic bearish signal that heralds a sustained downtrend.
SOL is testing key support amid increasing selling pressure. With the strengthening bearish momentum, Solana risks breaking the support level at $145.68, confirming a short-term downtrend with the next target at $142.32. If buyers cannot regain control at this level, the price may test the lower boundary of the wide range at $133.94.
