Solana (SOL) is in a crucial testing phase. Its price is weakening for the third consecutive session, nearing a key support zone.

This selling pressure occurs despite the Solana network’s stability during a massive DDoS attack. The network handled an intensity of 6 Tbps without significant disruption. 💥

Solana's resilience during this attack and the October AWS outage reinforces its reputation for load-bearing capacity. However, technical and derivative factors are currently pressuring SOL's price.

Open interest (OI) for SOL futures decreased by 3.62% to approximately $7.04 billion. This indicates a withdrawal of speculative capital. 📉

The funding rate has turned negative (-0.0078%). This suggests sellers are in control and willing to pay fees to maintain short positions.

Technically, SOL is fluctuating around the $126 support level. This price point has been critical during previous corrections.

A close below $126 could trigger a deeper decline. Potential targets include $107, the psychological $100 mark, and even the $80 region.

The daily RSI is at 37 and weakening. The MACD is nearing a bearish crossover, increasing short-term correction risks. ⚠️

If buying pressure returns and defends $126, SOL could recover. A potential test of the 50-day EMA around $147 remains possible.

(SOLUSDT)