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$SOL FACES SELLING PRESSURE — BEARS WATCHING FOR A DEEPER CORRECTION
Solana is showing signs of weakness after struggling to maintain upward momentum near a key resistance area. Buyers have attempted to push the price higher, but selling pressure is becoming more noticeable, suggesting that the recovery may be losing strength.
The current structure favors a cautious bearish outlook, especially if SOL continues to face rejection around the 71.30 region. A failure to reclaim this area could give sellers another opportunity to push the price toward lower support levels.
Key figures
$71.14–$71.30 — Important resistance and entry zone.
$69.09 — First downside level to monitor.
$67.30 — Secondary support if selling pressure increases.
$65.52 — Deeper downside level in an extended correction.
$73.39 — Invalidation level for the bearish structure.
Bearish scenario
If SOL fails to break above the resistance zone and continues forming lower highs, sellers could regain control. A sustained move below $69.09 would strengthen downside momentum and potentially expose the $67.30 region. If market-wide weakness continues, the $65.52 area could also come into focus.
Bullish scenario
However, if buyers manage to reclaim $71.30 and establish acceptance above resistance, the bearish outlook could weaken. A recovery toward $73.39 would invalidate the current downside structure and suggest that buyers are regaining control.
Market outlook
SOL remains under pressure near resistance, but confirmation is important before assuming another major decline. Watch the reaction around $71.14–$71.30 and how price behaves near the first support.
Leverage mentioned: 24x. Risk management remains essential in volatile market conditions.
#USOctoberPPIBelowExpectations