Solana’s SOL token has fallen to its lowest level since August, breaking below the uptrend line, representing the bull run since the April lows.
The breakout indicates growing bearish momentum, marked by the recent series of lower highs and lower lows, and a renewed bearish MACD crossover.
Immediate support is seen at $155 (the 61.8% Fibonacci retracement of the rally from $95 to $253), breach of which could lead to next support around $129. A move back above $180, the 200-day SMA, is needed to invalidate the downtrend.
