Solana (SOL) is exhibiting signs of a bearish trend, as indicated by the Directional Movement Index (DMI), where the negative directional indicator (-DI) surpasses the positive directional indicator (+DI). Currently, SOL is trading near the $120 support level, with the Bollinger Bands showing the price re-entering the lower track after a recent dip below it.
A potential bullish trend shift could occur if SOL moves above the $132 mark. Conversely, a breakdown below the $120 support level might lead to a test of the $112 monthly neckline, indicating further bearish momentum.
SOL Faces Potential Trend Reversal Amid Bearish Indicators
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
