The price of Solana (SOL) has faced difficulties in maintaining the $175 support level, leading to a potential drawdown. Traders have experienced significant liquidations, signaling a shift in market sentiment. Technical indicators suggest a decrease in bullish momentum and the possibility of a downturn. SOL's price has dropped by 7% in the past day and failed to secure $175 as support. If current trends continue, SOL may breach the next support level at $161 and potentially descend further. However, if bullish sentiment strengthens, SOL may attempt another rally and break above $175.



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