Solana (SOL) price sits at $84.80 with buying pressure halving and bearish crossovers stacking up as the asset tests a critical floor with no demand walls below.
The combined signals point to a setup where any break of the recent swing low could accelerate quickly, since the on-chain cost basis data shows the next major demand cluster sitting well above current price rather than below it
Solana Slides 15% as Bearish Crossovers and Rising Sell Volume Stack Up Solana has slid roughly 15% since hitting its May 11 peak, dragging the asset back into a range it had been trying to break out of for weeks. The decline has been confirmed by two technical signals that have flipped bearish in succession. The first signal is an EMA crossover that already triggered.
The 20-period Exponential Moving Average (EMA), a trend indicator that weighs recent prices more heavily than older candles, crossed beneath the 50-period EMA on May 19. A second crossover is forming as the 20-period approaches the 100-period from above, which would mark a stack of two consecutive bearish crosses. The SOL price action also carries weight in the volume reading. 12-hour selling volume has gradually increased since May 16, even as Solana’s price continued to drift lower.