Solana's price has experienced a significant decline since reaching its all-time high in January. It has broken below the lower line of the ascending parallel channel, indicating a shift in market trends and suggesting further price declines. The negative Elder-Ray Indexes confirm the bearish bias against SOL, indicating strong selling pressure. According to the Fibonacci Retracement tool, if buying pressure continues to weaken, SOL's price could fall to $136.62 and potentially even $120.72. However, if there is a resurgence in demand, SOL's price could attempt a retest of the breakout line and potentially move towards $220.58.



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