Solana's Trendline Break Triggers Bearish Pullback Signal
Solana's recent price action has triggered a bearish signal, according to its daily trendline. The cryptocurrency broke this trendline on close as the fresh candle extended lower. Additionally, the Relative Strength Index (RSI) printed a bearish divergence after Solana posted a higher high against a lower RSI peak.
This indicates that a deeper pullback is needed, even though the mid-term Solana bullish trend remains intact. Traders are closely tracking this setup in current SOL price prediction models.
On the 4-hour chart, Solana is trading at $117.17, just below the EMA50 at $117.31. The EMA200 sits at $105.71 as firm support, while the MACD confirms a death cross. Price remains inside the Bollinger band with lower support at $116.88 and upper resistance at $124.58.