As the end of the second quarter of 2025 approaches, sell-offs are intensifying, threatening the price of Solana to fall below the important support level at $130.
The price of SOL has decreased for seven consecutive days. The Chaikin Money Flow (CMF) indicator has deepened into the negative zone at -0.13, indicating a predominance of sales and capital outflow from the asset.
The Elder-Ray Index, which assesses the balance of power between buyers and sellers, is at -20.74. This indicator analyzes the deviation of the price from the moving average: a negative value confirms the dominance of bears, as prices fall below the average level.
This indicator shows who is stronger in the market — bulls or bears, by analyzing the difference between the asset price and the moving average. If it is negative, it means the bears dominate, as prices fall below the average, indicating a predominance of sales over purchases.
The dominance of bears intensifies concerns that the price of SOL could drop even lower, especially if the support level at $134 does not hold under selling pressure.
If the price breaks this level, more significant losses are possible, and SOL could drop to $123.49. However, if the bulls regain control, they might raise the price of Solana to $142.59.
