CandleFocus

Solana (SOL) Crash Warning as Support Collapses, Eyes on $200

Solana (SOL) is facing downward momentum as its daily chart shows a bearish pattern. The cryptocurrency has fallen below a crucial support level and could decline further if it closes below $226, potentially reaching $200. However, SOL is currently trading above the 200 EMA, suggesting an uptrend, and the RSI indicates a potential upside rally. Despite the bearish outlook, whales and institutions are showing confidence in SOL, as there has been a significant outflow of tokens from exchanges to wallets. SOL is currently trading around $222 with a 6.55% price decline and increased trading volume.

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