Solana (SOL) has entered a critical technical phase after breaking below the 23.6% Fibonacci retracement level ($165.65) and testing the $155 support zone, signaling weakening momentum amid broader market risk aversion. The move underscores the shifting sentiment in altcoins as investors rotate toward Bitcoin in search of relative safety.
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Technical Breakdown Signals Near-Term Weakness
The failure to hold the $165 level triggered a wave of stop-loss orders and algorithmic selling, pushing SOL into a vulnerable position just above its next support line. Both momentum indicators reflect softening
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