Solana has experienced a significant decline in value, reaching a multi-month low, due to the overall weakness in the cryptocurrency market. The altcoin's future recovery is uncertain and mostly depends on the performance of Bitcoin. Solana's long-term holders have suffered increased losses, putting additional selling pressure on the coin and potentially leading to further declines. If fear escalates, a mass sell-off could amplify the bearish pressure on Solana. The altcoin's strong correlation with Bitcoin, which is currently struggling, adds to its vulnerability. Unless Bitcoin stabilizes and market conditions improve, investor confidence in Solana is likely to remain weak. The recent decline in Solana's price is attributed to the overall bearish sentiment in the market and the Death Cross formation on its chart. The altcoin is attempting to stabilize above $120, but there is a risk of breaking below the key support at $128, leading to deeper corrections. However, if investors accumulate at the current lower price, Solana could reclaim $137 as support and potentially rally towards $155, invalidating the bearish outlook. The market sentiment and Bitcoin's trajectory are crucial factors in determining Solana's recovery.



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