Solana (SOL) Bearish Outlook on the Daily Timeframe

Solana (SOL) is showing signs of weakness on the daily chart, indicating a potential bearish move in the coming days. Several technical factors suggest that a downtrend may be on the horizon:

🔹 Price Action: SOL has failed to break key resistance levels and is forming lower highs, signaling selling pressure.
🔹 Moving Averages: The price is trading below major moving averages (e.g., 50 & 200 EMA), reinforcing the bearish sentiment.
🔹 RSI & Momentum: The RSI is trending downward, suggesting weakening bullish momentum and a possible shift to oversold conditions.
🔹 Support Levels: If SOL breaks below the nearest support level, further declines toward the next key demand zone could be expected.

Traders should closely monitor price movements and key technical levels before making any trading decisions. A confirmed break below support may open the door for deeper corrections.

What’s your view on SOL’s price action? Share your thoughts in the comments!