Markets
What to know:
- Solana’s SOL token has breached the upward trendline from April lows. Oh, what a party pooper! 😒
- The bearish momentum is increasing, according to key indicators. Looks like the fun has ended! 🎉
Solana’s SOL token has fallen to its lowest level since August, breaking below the upward trendline, representing the bull run from April lows. It seems the music has stopped, and everyone’s leaving the party! 🕺
The breakdown signals increasing bearish momentum, marked by the recent series lower highs and lows, and a renewed bearish MACD crossover. You know what they say: when the trendline breaks, it’s time to face the music! 🎶
The immediate support is seen at $155- the 61.8% Fibonacci retracement of the rally from $95 to $253- breach of which could lead to a next support around $129. A move back above $180, the 200-day SMA, is needed to invalidate the bearish trend. So, let’s see if the party can be salvaged! 🤔
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2025-11-04 09:36