The Solana currency has declined in recent hours, recording $185.13, a decrease of approximately 3.94% from yesterday's trades, after touching a daily low of $183.42 compared to the previous peak of $198.07.
📉 Current technical outlook
Moving averages: The price is trading below EMA20 ($188.69), EMA50 ($191.70), and EMA99 ($193.62), reflecting the dominance of the bearish trend in the short and medium term.
Relative Strength Index (RSI): Values between 27 – 30 place the currency in the oversold area, which may pave the way for a corrective rebound.
MACD: Still in the negative zone, but the decline in selling momentum suggests an approaching reversal.
Stochastic RSI: Close to the oversold area, supporting the likelihood of a rebound.
🔍 Potential scenarios
Positive scenario: Maintaining support at $183.42 with a breakout above $186 could open the way towards $188.7 then $191.7.
Negative scenario: Breaking the level of $183.42 could push the price down to $180.5 and possibly $177.8.
📊 The market is currently in a closely monitored area, where selling pressure is increasing, but oversold indicators enhance the chances of a short-term rebound.
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