Solana Faces Bearish Pressure as Price Dips Below $181
Solanaâs price is weakening, with the token now trading at $181. It has fallen over 6% in the past 24 hours and more than 17% this week. The decline follows a brief rally above $220, which has since reversed.
The drop is part of a larger crypto market downturn. Solanaâs price is testing a critical support level. If it breaks below $180, the next support could be near $168, the low from last weekâs crash. Further down, $150 is a potential target if the market continues to weaken.
Technical indicators show caution. The RSI is near 39, suggesting weakening momentum. The 20-day and 100-day moving averages are converging, adding to the bearish outlook.
A rebound might depend on institutional demand and optimism about Solana-based ETF approvals. These factors have driven major recoveries in the past.Without them, the risk of further losses remains high.
For now, bears are in control. The market is volatile, and thereâs no clear catalyst for a reversal.The key is whether current support can hold or if a deeper drop is coming.
