The price of Solana (SOL) has dropped below the moving average lines, indicating a downtrend. On January 3, buyers failed to hold the price above the 50-day SMA and the cryptocurrency declined. The bears broke below the 21-day SMA and the price hit a low of $194, with potential for further decline to $175. The cryptocurrency is currently in a downtrend zone and may retest the December 2024 price level. If the $175 support holds, Solana will resume its uptrend, but if it is lost, the market may fall to $165. The moving average lines are trending downwards, indicating a continuing downtrend. The key supply zones for Solana are $220, $240, and $260, while the key demand zones are $140, $120, and $100. The analysis and forecast of the cryptocurrency are the personal opinions of the author and not a recommendation to buy or sell.



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