Solana (SOL) Faces Key Support Levels Amid Potential Downtrend

Solana (SOL) recently declined from the $160 resistance zone and is now consolidating below the $150 level, with potential to dip further if it breaks below key support levels. The price action indicates a possible continuation of the downward trend unless a strong move above resistance levels occurs. The recent decline mirrors similar movement in Bitcoin and Ethereum, signaling broader market sentiment. The break below a bullish trend line at $150 and subsequent trading below $148 and $145 signifies bearish momentum. The current support around $145 is crucial, as a breakdown below it could lead SOL toward $142, with further declines potentially reaching $130 or even $125 if negative momentum persists. Conversely, a recovery above the resistance zones at $152 and $155 could signal an upward reversal, with the potential to retest $160 and possibly move toward $165 if buying pressure intensifies. Technical indicators such as the MACD and RSI also suggest bearish momentum in the short term. Market participants should watch these support and resistance levels closely. A break below key supports could suggest caution and potential short-term downside, while a successful test of resistance zones might offer a buying opportunity for a longer-term rebound.