Solana's price has experienced a 7% dip after being rejected at the $250 resistance level. This rejection has led to a decline in trading volume and a loss of bullish momentum. Short-term traders are now taking strategic moves to regain market dominance, with an increase in short positions. The technical indicators suggest that Solana's support level at $230 could be at risk, and if sellers gain more control, the price could potentially drop further towards the next major support at $202. To regain bullish traction, Solana needs to close above the $230 level and see a surge in trading volumes.



Other News from Today