Solana at a Crossroads!
🔸 Critical Support Test Underway
Solana's price is currently testing a crucial rising channel support. A break below this level could trigger a significant drop towards the $128.50 mark.
🔸 Institutional Interest vs. Technical Pressure
Despite the bearish technical setup, institutional demand for Solana remains robust, creating a tense tug-of-war in the market. The Solana Foundation has remained silent on the matter.
🔸 What to Watch For
Analyst Carl Runefelt highlights that a confirmed break of the channel is the key signal to watch. This event could initiate a rapid move to the next major support zone, defining Solana's short-term trajectory.