While many in the market are optimistic, I'm adopting a more cautious stance. To truly excel, it's essential to think like the top 10% of investors. Currently, Solana (SOL) is exhibiting signs that suggest a potential decline:

Bearish Technical Indicators: SOL's price has been hovering around $150, showing signs of weakening momentum. After failing to hold above key resistance levels, technical indicators are flashing bearish, suggesting that SOL could be headed for a pullback toward the $145–$140 range if selling pressure continues .

Death Cross Formation: The 50-day moving average of SOL, currently at $154.7, is below its 200-day moving average of $166, indicating a bearish trend. This 'death cross' suggests that the stock has been losing momentum over the short-term compared to its longer-term trend, which could be a concern for investors .

Descending Channel Pattern: A detailed review of Solana's trading activity reveals a consistent bearish trend throughout the 24-hour window. The token began the period facing strong resistance at the $157.42 level, a price point it failed to sustain. This rejection triggered a steady decline, forming a clear descending channel characterized by a series of lower highs and lower lows .

Given these factors, it's prudent to approach SOL with caution and consider potential downside risks.

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