Solana's native cryptocurrency, SOL, has been making headlines recently due to its market performance. The token retested $155, a key resistance level, and is currently facing a potential bearish trend. If the price rejects a move above $155, it could confirm a change of character, leading to a big decline to $135.
- Solana-based meme coins like Bonk (BONK), Fartcoin (FARTCOIN), and dogwifhat (WIF) have seen significant gains, contributing to SOL's price increase.
- The futures market has seen a significant volume of leveraged buy positions, which could lead to a downside risk for SOL's price.
- Trading volumes for SOL have nearly doubled, with the token's price potentially influenced by market sentiment and external factors.
