Solana: The bearish rally is fatal

Solana has good support above $140 and yesterday we feared it will break, and it did. Solana is sliding swiftly after retesting the support level.

Solana price today is $136.94 USD with a 24-hour trading volume of $1,555,933,128 USD. Solana is up 1.00% in the last 24 hours, with a market cap of $43,020,319,797 USD. It has a circulating supply of 314,151,698 SOL coins.   

Solana: Analysis

After breaking the native support of $135, fib 0.786, Solana is bleeding red to our target at $122, fib 1.272 – losing more than 13% from the current price. Solana has negligible support at $130 but it won’t be able to hold off such huge rally support by volumes. The local resistance for Solana is at $140.