However, this will require a return of demand for the altcoin and consistent trading of Bitcoin above the $28,000 mark. Continued consolidation for SOL could lead to a loss of its current support and a subsequent drop in value over future trading sessions. The market capitalization of Solana has also decreased, indicating increased selling pressure on the daily chart.
Furthermore, the Directional Movement Index (DMI) is negative, with the -DI line (orange) positioned above the +DI line (blue). Additionally, the Average Directional Index (red) has fallen below 20, indicating a weakening direction in the current price.
source:newsbtc
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