Solana (SOL) faces declining institutional interest and weakening technical indicators.
Average Directional Index (ADX) falls below 25.0, signaling loss of trend strength.
Price consolidation between $175 and $126 likely, with potential for recovery if $175 breached.
Solana (SOL), once a darling of institutional investors, finds itself at a critical juncture as the third quarter of 2024 draws to a close.
The cryptocurrency’s recent price action and shifting investor sentiment paint a complex picture of its near-term prospects, challenging the sustainability of its previous uptrend.
Technical analysis reveals a concerning development for SOL bulls. The Average Directional Index (ADX), a key indicator of trend strength, has dipped below the critical 25.0 threshold.
This decline signals a major loss of momentum in Solana’s uptrend, potentially paving the way for a period of consolidation or even a reversal. Without a clear directional bias, SOL may struggle to mount a con
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