Solana's Price Stalls at $118.67 as Momentum Fades

Solana's price has been stagnant at $118.67 after a 2.24% intraday decline, sparking concerns about the cryptocurrency's momentum.

The chart is flashing warning signs, with the MACD histogram showing zero activity and the Stochastic oscillator rolling over from elevated levels.

The token is now trading below its pivot point of $120.59, a key level that bulls need to reclaim in order to sustain their recovery setup.

A failure to do so could lead to a flush toward $113.78, which would wipe out the recent leg of the rally and invalidate the bull thesis.