๐ฅ Solana($SOL ) in Trouble? 20%+ Crash on the Horizon?
Solana (SOL) is flashing major warning signs as bears take control!
On Monday, SOL dropped to $165.40, closing in on the critical 200-day EMA support at $162.42. A break below could trigger a sharp slide, potentially crashing the price down to $141.41 โ a 14.6% drop from key support! โ ๏ธ
๐ป Key Bearish Signals:
๐ Price Action: SOL already plunged nearly 10% from the May 14 high of $184.13.
๐ Support Under Threat: Price is hovering just above the $160 support and a crucial ascending trendline from April.
๐ Momentum Fading:
RSI sits at 54, barely above neutral โ if it dips below 50, expect stronger downside momentum.
MACD is nearing a bearish crossover, another strong sell signal incoming.
๐ Bearish Sentiment Rising:
Coinglass data shows short positions at a monthly high.
Long/Short Ratio has dropped to 0.85, its lowest in a month โ traders are clearly betting on more downside.
โ ๏ธ If SOL closes below $160, brace for potential panic selling down to $141.41, its May 6 low. Thatโs a potential double-digit crash from current levels!
๐ Conclusion:
All technical indicators are flashing red. The mood is turning bearish, and support is hanging by a thread. Watch the $160 level closely โ a breakdown here could spark a serious correction.
Stay alert!
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