Solana Price Dips: Will SOL Reach $130?
Solana Price Under Pressure
Solana (SOL), a popular altcoin, experienced a near 10% price drop last week, continuing a bearish trend. The token briefly touched $129 amid escalating US-Iran geopolitical tensions. As Q2 2025 ends, SOL faces the risk of falling below crucial $130 support.
Bearish Indicators for SOL
The Chaikin Money Flow (CMF) has fallen into negative territory (-0.13), indicating more selling than buying volume. The Elder-Ray Index sits at -20.74, further confirming seller dominance. These indicators suggest weakening demand and potential for further price decline.
- CMF: Measures money flow into and out of an asset. Negative values signal outflow.
- Elder-Ray Index: Gauges the balance between buyers and sellers. Negative values indicate seller dominance.
Will SOL Recover or Fall Further?
The current bearish sentiment suggests SOL could decline further if the $134 support level breaks. A potential drop to $123.49 is possible. However, a resurgence of buying pressure could push the price upward towards $142.59.
Disclaimer: This analysis is for informational purposes only and is not financial advice. Market conditions are volatile. Conduct thorough research and consult a professional before making any investment decisions.
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