$SOL has declined sharply, dropping from its late-January consolidation zone of $125–$130 to approximately $104 as of February 3. The move breached several key support levels and the 50-day exponential moving average near $128, which has now turned into resistance.
Technical indicators reflect increased selling pressure, with the Relative Strength Index falling to the low 30s and selling volume rising during the downturn. Earlier attempts to stabilize near $120 failed, and the break below a short-term rising trendline has reinforced the bearish near-term structure.
On a separate note, analyst Ali Charts observed that the TD Sequential indicator recently flipped to a buy signal, suggesting a potential local reversal may be ahead
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