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Solana Price Prediction: SOL Likely to See Double-Digit Correction, Technical Analysis Says

  • Solana's price struggles at $183 after a 40% drop from $228 resistance, with a bearish RSI at 26 hinting at further declines.
  • Solana's TVL plummets 8% overnight to $8.45B, sparking concerns of a potential repeat of prior double-digit price drops.
  • Resistance around $228 proved too much for SOL, resulting in a steep 40% decline to the current level of $183. The bearish momentum is clear with the RSI indicator dipping to 26.
  • A closer look at Solana's TVL reveals a sharp drop from $9.18B to $8.45B in 24 hours, fueling speculation of a repeat performance seen in previous price drops exceeding 10%.

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