Solana’s Price Slumps below $108, Signaling a Potential Continuation of the Downward Trend

Solana (SOL) is currently trading around $105.55, indicating a 1.44% intraday decline as sellers regain control. This follows a brief recovery attempt. SOL encounters renewed resistance near the $108.72 level, which aligns with the midpoint of Bollinger Bands. This rejection signals waning bullish momentum and suggests potential continuation of the recent downtrend. Experts attribute this dip to the increased selling pressure in the market.