The price of Solana (SOL) has struggled to maintain its upward momentum and has repeatedly failed to secure $161 as a support level. A recent failed breach of this level led to a 13% decline in SOL's price. Technical indicators, such as the Relative Strength Index (RSI), suggest bearish momentum, and traders are positioning themselves with short contracts to profit from further price declines. The funding rate has turned negative, indicating a predominantly bearish market sentiment. With ongoing bearish momentum and negative sentiment, SOL could drop to $124 and potentially even $120. However, if it manages to hold $140 as a support level, there is a chance for a recovery toward the $160 range and beyond.



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