Solana (SOLUSD) rose slightly in its latest intraday trading as the price attempts to correct the main short-term bearish trend, with trading aligned along a minor ascending line that supports this move. However, continued negative pressure from trading below the 50-day SMA reduces the chances of a near-term recovery. In addition, bearish signals have begun to appear on the relative strength indicators after reaching extremely overbought levels, reinforcing the downside outlook.

Therefore, we expect the cryptocurrency to decline in its upcoming intraday trading as long as the resistance level of $174.25 holds, targeting the support level of $146.00.

Todays price forecast: Bearish.