The post Will Bulls Rescue the Price Before it Slips Deeper? appeared on BitcoinEthereumNews.com. Solana is hovering around $141, posting a loss of over 10%. The SOL market has recorded $69.33 million in liquidations. The sturdy bears in the crypto market have shaken the assets by a 5.62% pullback, bringing the market cap down to $3.28 trillion. All the major digital assets have been charted in red, losing their recent gains. Bitcoin (BTC) has dropped below the $100K, trading at $97.2K. Meanwhile, Ethereum (ETH) is hovering at 43.1K. Among the altcoins, Solana (SOL) suffered a hard hit, plunging by over 10.04%. Significantly, VanEck has filed a Form 8-A with the SEC for its Solana spot ETF, a move that comes right before the launch. Will this push SOL toward its next major breakout? In the early hours, the asset attempted to clear the $160 zone and ended up trading at around $156.99. With the potential bears stepping in, the Solana price slipped to a bottom range of $139.87.  At the time of writing, Solana trades within the $141.34 mark, with its market cap staying at $78.07 billion. Consequently, the daily trading volume has increased by over 26.16%, having reached the $7.85 billion zone. In addition, the market has experienced a liquidation of $69.33 million during the last 24 hours, according to the Coinglass data.  Will Solana’s Slide Continue, or Is a Rebound Near? Solana’s technical analysis exhibits that the Moving Average Convergence Divergence (MACD) is below the signal line. It indicates weakening momentum and a bearish bias. As both lines are positioned below the zero line, the overall trend is negative. SOL’s Chaikin Money Flow (CMF) indicator is likely found at -0.27, suggesting a clear selling pressure in the market, with money flowing out of the asset. Notably, the deeper the value moves into negative territory, the stronger the bearish sentiment. Besides, the 4-hour… The post Will Bulls Rescue the Price Before it Slips Deeper? appeared on BitcoinEthereumNews.com. Solana is hovering around $141, posting a loss of over 10%. The SOL market has recorded $69.33 million in liquidations. The sturdy bears in the crypto market have shaken the assets by a 5.62% pullback, bringing the market cap down to $3.28 trillion. All the major digital assets have been charted in red, losing their recent gains. Bitcoin (BTC) has dropped below the $100K, trading at $97.2K. Meanwhile, Ethereum (ETH) is hovering at 43.1K. Among the altcoins, Solana (SOL) suffered a hard hit, plunging by over 10.04%. Significantly, VanEck has filed a Form 8-A with the SEC for its Solana spot ETF, a move that comes right before the launch. Will this push SOL toward its next major breakout? In the early hours, the asset attempted to clear the $160 zone and ended up trading at around $156.99. With the potential bears stepping in, the Solana price slipped to a bottom range of $139.87.  At the time of writing, Solana trades within the $141.34 mark, with its market cap staying at $78.07 billion. Consequently, the daily trading volume has increased by over 26.16%, having reached the $7.85 billion zone. In addition, the market has experienced a liquidation of $69.33 million during the last 24 hours, according to the Coinglass data.  Will Solana’s Slide Continue, or Is a Rebound Near? Solana’s technical analysis exhibits that the Moving Average Convergence Divergence (MACD) is below the signal line. It indicates weakening momentum and a bearish bias. As both lines are positioned below the zero line, the overall trend is negative. SOL’s Chaikin Money Flow (CMF) indicator is likely found at -0.27, suggesting a clear selling pressure in the market, with money flowing out of the asset. Notably, the deeper the value moves into negative territory, the stronger the bearish sentiment. Besides, the 4-hour…