$SOL
🚨 Why Solana price going down today? 🚨
The answer to why Solana price going down today lies in both momentum loss and short-term overbought signals. On the 30-minute chart, RSI has cooled to 55.04 from previously overbought levels above 70, reflecting declining buying pressure. Meanwhile, MACD is hovering near the neutral line, failing to produce a strong bullish crossover despite recent price spikes.
Adding to the caution, the Ichimoku Cloud on the 30-minute timeframe shows price trading below the cloud base, with the Tenkan-Sen and Kijun-Sen lines beginning to flatten. This suggests indecision in trend direction. The Stochastic RSI also hit overbought levels above 96 before turning downward, indicating the potential for a short-term retracement or continued choppy action.
In essence, while the Solana price spikes earlier this month took price near the $185 mark, the market is now digesting gains. Without a breakout above $173–$175, SOL remains vulnerable to extended consolidation or minor downside reversion.
