Solana’s SOL token has fallen to its lowest level since August, breaking below the uptrend line, representing the bull run from the April lows.
The breakdown signals increasing bearish momentum, marked by recent series lower highs and lows, and a renewed bearish MACD crossover.
Immediate support is seen at $155 – 61.8% Fibonacci retracement of the rally from $95 to $253 – breach of which could lead to next support around $129. A move back above $180, the 200-day SMA, is needed to invalidate the bearish trend.
