#MarketSentimentWatch

Buyers Pull Back on Solana (SOL) as Coin Drops Below Key Support

Solana price has fallen sharply since hitting an all-time high of $295.83 on January 18. At press time, SOL is trading at $171.81, down 41% since then.

The altcoin, which has been trading within an ascending parallel channel since 2023, is now trading below the channel’s lower line. This signals a decisive shift in market sentiment and suggests further price declines.

Bears Take Control as Solana Breaks Its Years-Old Channel

Solana has been trading within an ascending parallel channel since June 2023 and has now broken below it for the first time in the past year.