SOL Technical Analysis: Sellers Ready To Ambush $80

SOL prices struggle to cushion the ongoing downfall as the selling pressure grows and teases a potential fall below the $80 mark. Key technical points: SOL market price falls under $100. The daily candle shows a growth of 1.96%. The 24-hour trading volume of Solana is $1.034 Billion, reflecting a fall of 11%. Past Performance of SOL SOL prices fall drastically after the recent rejection from the resistance trendline resulting in a fall below all the crucial daily EMAs and the psychological barrier at $100. The downfall continues to a sideways trend after the bearish candle formed on 30th April breached the $90 mark. Source-Tradingview SOL Technical Analysis SOL price action shows a consolidation phase ready to continue the bearish trend and hammer the $80 support level. Hence, traders can find selling opportunities as the market price crosses below the $80 mark. The crucial daily EMAs move with high selling pressure areas as they maintain a bearish alignment. Moreover, the EMAs have a history of providing dynamic resistance to keep bullish growth in check. The MACD and signal lines continue to fall within the negative territory with a constant bearish spread as the downtrend continues. Thus, the indicator suggests the possibility of an $80 fallout. The RSI value continues to fall within the nearly oversold territory as the bullish attempts to surpass the halfway line fails. Moreover, the 14-day SMA continues to put bearish inf...