Solana’s Sad Saga: Will It Keep Falling or Is There Hope? 🤔

Ah, the ever-charming markets have decided to paint themselves in the most intoxicating shade of crimson. CoinMarketCap reports that our dear Solana’s day has been a jubilant descent into despair. How delightful! Market red alert

SOL/USD

It’s official—Solana (SOL) has graciously surrendered 3.48% of its value in a mere twenty-four hours. Truly, the market’s sense of humor is both cruel and punctual. 🤡

Price chart showing downward trend

On the hourly chart, SOL seems to be auditioning for the role of bearish superstar. Should it break its local support, brace yourself—$145 might become the next stop on its sad, lonely journey. Oh, what joy!

Long-term chart with seller dominance

Looking further into the crystal ball—or perhaps through a foggy window—it’s clear that sellers hold more power than buyers, making the market’s dance resemble more of a tragic waltz. If the candle closes below $152.14 with a staunch demeanor, we might soon see it testing the $140-$145 neighborhood. How quaint.

Midterm analysis

From a midterm perspective, hope remains as elusive as the last slice of cake. No signs of reversal showering down, only the ominous low of the previous bar. Cross below $150? Expect a gentle correction toward the $140 abyss. Such is the delightful unpredictability of crypto!

At press time, SOL is happily trading at $150.67—probably the price of blissful ignorance and denial. Cheers! 🥂

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2025-06-05 17:45