DeFi contagion fears and bearish technicals mean additional downside pressure on Solana price.
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DeFi contagion fears and bearish technicals mean additional downside pressure on Solana price.
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Network outages and decreasing smart contract reserves add further downside pressure to SOL price.
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Solana’s nearly 80% year-to-date decline is likely to follow up with some relief rallies, technicals suggest.
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A mix of on-chain, fundamental, and technical factors suggests more pain for Ether bulls ahead.
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SOL price can preserve the bullish bias, however, as its two multi-month support levels converge for the first time.
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SOL price enters overbought territory but history shows that bulls are not scared of Solana’s excessive valuations.
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More bearish cues for SOL comes from a bull flag setup that’s now breaking to the downside.
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Recently, death crosses between the 50-day and 200-day exponential moving averages have acted as a reliable predictors of bottoms.
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A confirmed head and shoulders pattern on SOL’s daily chart points toward a drop to $70.
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