The post Solana (SOL) Slides: Can It Find Stability Before the Next Decline? appeared on BitcoinEthereumNews.com. Solana is currently trading around the $192 range. SOL’s trading volume has dropped by more than 26%. The 1.84% loss has pushed the market cap down to $3.76 trillion. The fall has made the major crypto assets enter the bearish zone, losing momentum. Bitcoin and Ethereum are trading on the downside, at $111.1K and $4,000. Turning the attention toward the altcoins, Solana (SOL), within the downtrend, has plunged by over 4.76%.  This made the Solana bears gain more traction after a series of tests. In the early hours, as per CMC data, SOL traded at a high range of $208.33, and the bearish command has triggered the asset to fall to a bottom level of $192.70. At the time of writing, Solana traded within the $192.89 zone.  With its market cap touching $105.64 billion, SOL’s daily trading volume has dropped by over 26.92%, reaching $9.13 billion. Besides, the market has witnessed a liquidation of $33.58 million worth of Solana in the last 24 hours, as reported by the Coinglass data. An analyst chart exhibits that, based on the technical analysis of Solana, the price could move upward to retest the resistance near the $260 range. However, if it fails to break that level, a pullback toward the support around $166 is possible. Can Solana Price Reverse the Current Downtrend? Solana’s Moving Average Convergence Divergence (MACD) line and signal line are found below the zero line, which indicates a bearish trend in the market. The asset is likely in a weak recovery phase. In addition, the Chaikin Money Flow (CMF) indicator, which is currently at -0.13, suggests selling pressure in the SOL market. The money is flowing out of the asset, and the negative value shows the possible continuation of a bearish phase.  SOL chart (Source: TradingView) Moreover, the price movement… The post Solana (SOL) Slides: Can It Find Stability Before the Next Decline? appeared on BitcoinEthereumNews.com. Solana is currently trading around the $192 range. SOL’s trading volume has dropped by more than 26%. The 1.84% loss has pushed the market cap down to $3.76 trillion. The fall has made the major crypto assets enter the bearish zone, losing momentum. Bitcoin and Ethereum are trading on the downside, at $111.1K and $4,000. Turning the attention toward the altcoins, Solana (SOL), within the downtrend, has plunged by over 4.76%.  This made the Solana bears gain more traction after a series of tests. In the early hours, as per CMC data, SOL traded at a high range of $208.33, and the bearish command has triggered the asset to fall to a bottom level of $192.70. At the time of writing, Solana traded within the $192.89 zone.  With its market cap touching $105.64 billion, SOL’s daily trading volume has dropped by over 26.92%, reaching $9.13 billion. Besides, the market has witnessed a liquidation of $33.58 million worth of Solana in the last 24 hours, as reported by the Coinglass data. An analyst chart exhibits that, based on the technical analysis of Solana, the price could move upward to retest the resistance near the $260 range. However, if it fails to break that level, a pullback toward the support around $166 is possible. Can Solana Price Reverse the Current Downtrend? Solana’s Moving Average Convergence Divergence (MACD) line and signal line are found below the zero line, which indicates a bearish trend in the market. The asset is likely in a weak recovery phase. In addition, the Chaikin Money Flow (CMF) indicator, which is currently at -0.13, suggests selling pressure in the SOL market. The money is flowing out of the asset, and the negative value shows the possible continuation of a bearish phase.  SOL chart (Source: TradingView) Moreover, the price movement…