Solana’s price is currently in a critical phase, following a descending channel pattern. Uncertainty grows as investors play a key role in determining if SOL will continue to slide or find support for a reversal. Recent data shows holders are oscillating between accumulation and distribution, with more outflows from exchanges in the last 48 hours.

The Realized Profit/Loss Ratio indicates a bearish sentiment, with losses dominating as holders sell at lower prices to avoid further drawdowns. Panic-driven exits suggest fading confidence, putting additional downward pressure on price unless broader sentiment shifts towards accumulation.

Solana’s price remains within a descending channel, risking a breakdown below the lower trend line if bearish sentiment persists. A successful bounce off the support could lead to a recovery attempt, challenging the $146 resistance. However, bullish market conditions are needed to invalidate the current bearish thesis and push the price higher.

Read more at Yahoo Finance: Will Solana’s Price Trajectory Be Defined By Losses?