SOL price action shows an inverted rounding bottom pattern breakout and cracks below the $40 mark. Will the downfall mark Key technical points: The SOL market value deflated by 13.54% in the last 24 hours. Market value falls under $40. The 24-hour trading volume of Solana is $2.52 Billion, indicating a rise of 100.7%. Past Performance of SOL Bearish influence growing on SOL prices degrades the market value by 70% in April, resulting in the fallout of a psychological mark of $50. The downfall regains the momentum after the retest of $60, resulting in the inverted rounding bottom pattern breakout. Finally, the fallout comes with a decline of 30% in the last week, breaking under the $40 mark. Source-Tradingview SOL Technical Analysis SOL price shows a resurgence of bearish powers evident by the boom in selling pressure as the bearish pattern provides a launchpad for sellers. Hence, the sellers can find an entry spot in the current market with a target at the following price action level. The Vortex indicator shows the VI lines regaining the bearish alignment after avoiding the crossover. Showing similar signals, the MACD indicator shows a weakness in the uptrend as the fast and slow lines prepare a bearish crossover with a fall in bullish histograms. Moreover, the Stochastic RSI indicator shows a falling trend of the K and D lines representing a bear cycle in motion, promoting the downtrend below $40. Hence, the technical indicat...
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