🚀📉💥 Solana’s Bull Run Halts with 3-Month High Liquidations After 7% Price Drop

📉 Solana Faces Price Challenges
Solana’s price recently struggled to maintain the $175 support level, halting its bullish momentum after weeks of gains. This loss puts SOL under pressure, making it vulnerable to a potential downturn. Market participants are closely watching Solana’s price action after these setbacks.

💥 Solana’s Bullishness Fades
In the past 24 hours, long traders experienced $25 million in liquidations, marking the largest single-day liquidation for Solana in three months. This significant sell-off has shaken investor confidence, signaling a shift in sentiment. The volatility highlighted by these liquidations indicates growing caution among market participants.

📊 MACD Points to a Slowdown
Technical indicators, like the MACD, show a potential slowdown in Solana’s momentum. The shrinking MACD histogram bars suggest that Solana’s recent uptrend is losing steam, with bearish sentiment building. This shift could lead to consolidation or a deeper retracement.

⚠️ SOL Price Prediction
Solana’s price has dropped 7% in the past day, retreating to $169 after failing to hold $175 as support. The next critical support level is $161, and if SOL breaches it, prices could fall to $155 or lower. A recovery will depend on whether buyers step in to counter the bearish momentum.

🚀 Potential for Recovery
If bullish sentiment returns, Solana could stabilize and attempt a rally. A successful break above $175 could invalidate the current bearish outlook and push SOL back toward $180. However, without renewed buying interest, Solana may continue its downward trend.