Solana (SOL) Faces Bearish Pressure as Technical Indicators Signal Weakness

Solana (SOL) is currently showing signs of a bearish trend, as key technical indicators highlight increasing selling pressure. While some metrics suggest a potential buying opportunity, the overall sentiment remains cautious.

Technical Indicators Point to Bearish Momentum

Relative Strength Index (RSI) Below Oversold Territory

The Relative Strength Index (RSI) is currently at 32.16, just above the oversold threshold of 30. Typically, an RSI below this level suggests that the asset is oversold, indicating a potential buying opportunity. However, continued selling pressure could lead to further declines, reinforcing the downward trend.

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