SOLUSDT Faces Bearish Pressure Amid EMA Rejection
2024-11-05

Today, SOLUSDT is trading near $160.91, with the trend clearly tilted downwards. Price has encountered resistance around the $164.77 - $166.34 zone, where it has repeatedly failed to break above the EMA lines, signaling bearish dominance.

The rejection from these EMA levels highlights a lack of buying strength, keeping sellers in control. This trend suggests potential further declines, with the next target support level in the $148 - $149.33 range. Should this level hold, it may spark a short-term recovery. However, as long as SOLUSDT remains under the EMAs, the outlook stays bearish.