Solana price predictions after stabilizing around $154.00 and increasing pressure, is a break of the main resistance level looming on the horizon?

Recently, the price of Solana (Solana-SOL) has stabilized with a decline of about 1.29% over the last 24 hours around $154.00, with daily trading volumes reaching $2.2 billion. This follows the transfer of some whales (large investors) SOL balances worth $161 million, causing losses for their investors of about $323 million due to selling pressures from major holders; Whale Alert reported the transfer of nearly one million SOL coins, indicating a cautious atmosphere due to the current macroeconomic conditions.

On the other hand, technical indicators confirmed a change in direction; the price of SOL settled below a key support level, which is the 34-day Exponential Moving Average (EMA-34) at $163.20, suggesting a buildup of selling pressure due to increased trading volumes. However, the price remains within the support range of $150-$156, given that the EMA-50 and EMA-100 indicators are stable within it.