Solana (SOL) has recently failed to breach the resistance level of $138 and is now facing increased scrutiny as it approaches critical levels. The cryptocurrency is on the verge of forming a death cross, which could signal the end of its 11-month bull run. This has raised concerns among investors who have been bullish on Solana for nearly a year. However, the Moving Average Convergence Divergence (MACD) indicator suggests that bearish momentum might be waning in the short term, potentially leading to a bounce back for Solana. The cryptocurrency is currently trading at $130 and is looking to bounce off the $124 support level. Breaching the $138 resistance would indicate a continuation of its upward trajectory, while a death cross could lead to significant losses.
CryptoQuant Founder Ki Young Ju Says Enthusiasm Is Declining in Cryptocurrency Industry! Here's Why!
Former Celsius CEO Mashinsky seeks testimony from six witnesses as he faces 115-year prison sentence
Binance founder CZ to be released from prison on September 29, confirms US Federal Bureau of Prisons