Solana Price Forecast Turns Bearish After $100 Breakdown, Can Next Support Stop the Slide?

Solana's price has fallen below $100, a key psychological level, shifting focus to damage control. The price drop has accelerated, leading to a bearish trend in the short term. Market analysts are watching for support levels to prevent further decline. Trading volume and open interest have decreased, indicating reduced trading activity. This price decline coincides with wider market liquidations and thin liquidity in the crypto market. Macroeconomic factors, like potential tighter monetary policy, also impact investor sentiment. Technical analysis reveals a weakening structure with lower highs and lows. Momentum indicators show Solana is in oversold territory, increasing short-term bounce chances. Key support levels are at $95, $92-90, with deeper zones possible if selling increases. Despite the price action, Solana's network activity and stablecoin usage remain strong. To negate the bearish outlook, Solana must reclaim and maintain $110. Until then, any upward movement is considered a corrective move within the broader downtrend.