🛑 Solana (SOL) June 17

Solana continues to show weakness amid overall market uncertainty. Over the past 24 hours, the price dropped by 3.45 percent, falling to 150.72 USDT. This decline came after the price failed to hold above the resistance zone near 158 dollars.

Key reasons behind the drop:

1. Profit-taking by large holders following last week’s rally

2. Increased regulatory pressure on decentralized applications in the Solana ecosystem

3. Decreased investor appetite for risk assets ahead of the upcoming Fed interest rate decision

From a technical perspective, the price is now near the MA(25), which acts as short-term support. However, a bearish crossover of MA(7) and MA(99) indicates continued downward pressure. If the 149.80 support level does not hold, the next key support lies around 140.70 where buyers previously showed interest.

Scenarios to watch:

1. If the 149 to 150 zone holds, a short-term bounce toward 154 to 158 is possible

2. A breakdown below could push the price toward 140.70 or even lower if bearish momentum increases

❗️ $SOL Caution dominates the market now. Buyers should wait for a clear reversal and a rise in trading volume. Sellers continue to lead the trend.