Solana ($SOL ) Update

Current Price: $160.74

24h Drop: -5.05%

After hitting a recent high of $176.77, Solana is showing clear signs of weakness, with price now trading below all major moving averages:

• MA(7): $162.62

• MA(25): $165.43

• MA(99): $169.64

This indicates strong bearish pressure in the short term.

High volume ($721M USDT) suggests large-scale risk-off sentiment across the market.

Possible Reasons:

• Bitcoin-led market pullback

• Futures liquidations triggering cascading stops

• Weak demand near resistance zones

• Potential ecosystem FUD or macro uncertainty

Stay cautious and manage your positions wisely.

Support levels to watch: $156 – $150

Resistance: $165 – $170