Solana (SOL) lost momentum this week, facing significant resistance around the price level of $130. Like other altcoins, SOL registered a significant decline last Sunday, dropping more than 12%, falling below $120 and settling at $105. Selling pressure persisted on Monday as SOL fell below $100, reaching an intraday low of $95. However, SOL bounced back from this level to regain $100 and settle at $106, ultimately registering a growth of more than 1%. The price lost momentum on Tuesday, falling nearly 2% to $105, before rising on Wednesday, recording an increase of almost 13% and settling at $118. SOL's growth lost momentum on Thursday, dropping more than 5% to $112.
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On Friday, optimistic sentiment returned as the price rose nearly 8%, reclaiming $120 and settling at $121. Buyers maintained control on Saturday as SOL increased by 9%, surpassing the 20- and 50-day simple moving averages and settling at $132. However, on Sunday, sentiment changed after SOL failed to rise further. As a result, the price dropped by 3%, falling below the 50-day simple moving average and settling at $128. SOL began the current
The week started positively, rising to an intraday high of $135 before settling at $129. Selling pressure returned on Tuesday as buyers lost momentum, and SOL fell by 2.47% to $126. The current session shows that SOL is slightly declining as sellers aim to lower the price.
