Solana under downward pressure, key support at $164

Buyers can't stop the downtrend and sellers are taking advantage of it. Prices have fallen sharply over the past seven days and there are concerns about whether the upcoming support levels will hold.Solana lost 10% of its valuation over the past week as it failed to break above the key resistance level of $206 twice. Now, sellers have reached the key support level in an attempt to push the price below $164. In order to avoid even lower lows, Solana's price must remain above the key support level of $164. A break above this level will open the way for the bears to take the next step towards $130. Additionally, the 3-day MACD has just formed a bearish crossover, which is a major signal that momentum is shifting to the bears and Solana's uptrend could be ending. This will be confirmed if support at $164 is lost. The current view on Solana is bearish. In the short term, if sellers are successful in their offensive, then Solana could fall below the key support level of $164.