Solana (SOL) is facing heavy selling pressure, with its price declining from $200 to $187.99. Key technical indicators point to negative market sentiment, including a Cumulative Volume Delta (CVD) of -764,722K and Funding Rates at -0.0170.
The Relative Strength Index (RSI) at 32.54 also suggests continued downward momentum. However, the recent approval of a Solana ETF (85%) could be a long-term catalyst for price recovery.
Institutional investment via ETFs often enhances liquidity and demand, potentially stabilizing the market. The current bearish trend, however, suggests further downside risks before any sustainable recovery occurs.
The volatility index of 236.03 illustrates significant price fluctuations, making SOL highly unpredictable. A failure to hold $191 could drive the price down to $138, reinforcing continued instability.
Source: https://ambcrypto.com/solana-faces-heavy-selling-can-sol-potentially-drop-to-138