Solana’s Slippery Slope: MACD Signals a $128 Crash Risk
Solana is currently facing significant bearish signals, with its MACD indicator showing a crossover at -2.58, confirming short-term bearish pressure and suggesting a likely price correction from its current $145.78 level down to around $128. The RSI is also near oversold territory at 33.05, and other indicators like the DMI and Bollinger Bands hint at upcoming volatility but no clear trend dominance. This technical setup places Solana's critical support at $144 under threat, and if broken, a slide to $128 or even lower to around $125 is possible.
Despite some institutional interest and recent developments like CME launching Solana futures, price action remains subdued, with Solana struggling to break above the $130 resistance level. The bearish momentum is further supported by a recent MACD bearish crossover and a death cross in moving averages, indicating continued downward pressure.
In summary, Solana's technical indicators, particularly the bearish MACD, signal a risk of a price crash to around $128.
