Solana Under Serious Pressure Against Bitcoin SOL/BTC Candle Close Is Crucial

Solana (SOL) is under significant selling pressure, trading at its lowest price since November 2024, around $168 after hitting a low of $163. The decline is linked to the waning meme coin market, which initially boosted Solana but now contributes to its negative performance against Bitcoin (BTC). A crypto analyst pointed out that the SOL/BTC trading pair is breaking down from a crucial support level, but with 2 days and 15 hours left on the 3-day trading chart, the outcome is uncertain. If this breakdown is confirmed, SOL could fall further against BTC. For SOL to recover in the short term, it needs to climb above $170, a key resistance level. Failure to hold above $170 could trigger a larger correction, potentially pushing SOL down to $150. Conversely, if SOL moves above $170 and then surpasses $190, it could signal a bullish reversal, potentially driving the price back towards $200.