The price of Solana (SOL) is experiencing a loss of momentum in the short term as the Relative Strength Index (RSI) value falls to 40.77, and selling pressure is increasing. Technical indicators, especially the bearish trend of the Ichimoku Cloud and the horizontal movement of the Tenkan-sen and Kijun-sen lines, show that the price remains stagnant under pressure. Additionally, EMA indicators are also moving downward. If SOL cannot break the resistance at $150.59, it risks a pullback below the $140 level.

RSI for Solana Dropped Below 45, Momentum is Weakening

Solana's RSI value quickly dropped from 64.25 two days ago to 40.77. This sharp decline indicates that the strength of buyers has decreased and sales have become dominant. An RSI value of 40.77 signifies that the market has now shifted to a neutral-bearish zone, and a cautious atmosphere prevails in short-term price movements.

RSI is an important momentum indicator that varies between 0 and 100, measuring the speed and magnitude of price changes. Above 70 generally indicates overbought regions, while below 30 indicates oversold regions. The current level shows that upward momentum for SOL is decreasing but has not yet signaled oversold conditions. If RSI drops further, it may indicate that selling pressure continues.

Ichimoku Cloud and Tenkan-Kijun Signals Support the Decline

Solana's Ichimoku Cloud indicates that the price is moving below the red cloud, and therefore the downtrend continues. The upper boundary of the cloud, Leading Span A, continues to remain below the lower boundary, Leading Span B, supporting the negative outlook. The upcoming cloud is also red and thick, creating a strong resistance area and blocking the upward movement.

The Tenkan-sen (blue) line is below the Kijun-sen (red), and both lines are moving horizontally; this indicates that the price is tight and stagnant rather than showing a strong trend movement. Since the candles are struggling to stay above the Tenkan-sen, short-term momentum is still weak.

EMA Structure Indicates a Decline

Solana's EMA structure is also declining. Short-term moving averages are below long-term EMAs, indicating that selling pressure continues. The recent attempt to rise failed, and SOL retreated from critical resistance for a trend reversal.

If this decline continues, SOL may test the significant support level at $141.53. If this level is broken, the price may fall below $140 for the first time since April 21.

Possible Scenarios

On the other hand, if short-term EMAs turn upward, SOL may retest the resistance area around $150.59. A breakout above this resistance could indicate a potential trend reversal. If buying momentum strengthens, the next resistance targets are at $163.64 and $168.36.

In the long-term bullish scenario, it seems possible for Solana to target the $179.41 level.


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