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Bitcoin (BTC) Loses $150: What’s Next?
Solana (SOL) may test support at $50, a crucial psychological barrier, if the 200 EMA is breached, which could lead to even lower levels. The Relative Strength Index (RSI), currently at 31, is getting close to oversold territory but has not yet indicated a definite reversal. This allows for additional downward movement prior to a possible rebound. Bearish sentiment on the main cryptocurrency markets exacerbates Solana’s difficulties on the larger market stage. Investor confidence may be further damaged if the 200 EMA is not broken, which could result in a protracted bearish phase.
However, if SOL can maintain this level, it may attract investors seeking a long-term entry point, which could stabilize the asset.
It seems that Solana (SOL) has been struggling to find its footing recently, and its current price action is quite concerning for many enthusiasts.
Source: u.today
