Solana (SOL) faced selling pressure over the last 24 hours, recording a 3% price decline and under performing the broader crypto market. The drop followed a rejection near key technical levels, particularly the 30-day simple moving average around $132, signalling weakening bullish momentum.
Technical indicators now show Solana trading below major moving averages, with the 10-day EMA near $126 and 20-day EMA around $129, highlighting growing bearish sentiment. Analysts note that Bitcoin’s rising dominance is also drawing liquidity away from altcoins like SOL, contributing to the continued downside risk.
