Solana (SOL) has fallen below the critical resistance level of $133, entering a new phase of market direction. The 4-hour KDJ indicator reveals slight divergence, with the D value showing more pronounced divergence, suggesting potential volatility. Trading volume has tripled, accompanied by bearish candlesticks, indicating increased selling pressure.
If SOL manages to rebound above $133, it could signal accumulation and a potential stronger upward trend. However, failure to do so may confirm selling pressure and distribution. The next significant support level is at $124, and a breach below this could lead to further declines towards $112.
SOL Faces Key Support at $124 Amid Bearish Pressure
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