SOL’s Chaikin Money Flow (CMF) indicator is stationed at -0.17, indicating moderate selling pressure, and the money is flowing out of the asset. It signals that the bearish pressure has the upper hand in the market.
Assuming the pullback, the Solana price might fall and test the support at the range of $154.07. Further losses might trigger the formation of a death cross, accelerating more downside correction to its previous lows near the $153 level.
On the upside, if Solana mounts toward the $155 range, it could likely target its crucial resistance above it. Breaking this mark might trigger a golden cross to support the recovery, sending the price to $155.50 for a strong upside correction.
The daily relative strength index (RSI) at 24.30 implies that the asset is oversold and is undervalued, potentially setting up for a reversal or bounce, though it is not a buy signal. Moreover, SOL’s Bull Bear Power (BBP) value of -15.61 signals a strong bearish pressure in the market, pushing prices below.