Will Solana’s Price Slide Continue? Technical Signals Indicate Doubts

Solana faces growing pressure in its price as technical signals suggest a potential decline. With the current market hovering at $173, a double top pattern on the four-hour chart has analysts anticipating a drop towards the $145 level. This is further fueled by over $30 million in long position liquidations, adding fuel to an already volatile selling wave. Open positions are currently at a peak not seen in months and this has intensified leveraged trading activity, leading to increased volatility as stop-loss orders are triggered more frequently.