Solana is like this.. If it touched the support, it will seek again and this time at the lower support... Then at the lower support and so on
320 WYATT
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Bearish
$SOL {spot}(SOLUSDT) The daily chart shows that Solana is facing a make-or-break moment as it recently tagged the $175 support area. This has been a key resistance and support area in the past, and could play a key role to determine where the token will be heading next. On Friday, the U.S. will release its inflation data for September. The consensus estimate for the period is a 3.1% advance in prices on an annualized basis. However, if inflation accelerates, the Federal Reserve could opt to postpone its planned interest rate cut for this month. If that happens, the market could tank and drag Solana along with it. In that case, the key support to watch for the token would be $130, meaning a 30% downside potential in the near term. The Relative Strength Index (RSI) also favors a bearish outlook, as it has dropped below the 14-day moving average and the indicator’s mid-line. Since it has not yet hit oversold levels, it indicates that negative momentum is accelerating, which would result in further downside to SOL. In contrast, if the token stays above $175, the odds of another push toward $200 will remain high. As institutional interest in Solana keeps rising, the best crypto presales in this ecosystem, like Snorter ($SNORT), could deliver attractive gains in the near term. In a short period, this automated trading bot for meme coins has already raised $5.4 million to launch its Telegram-based solution.
