SOL Price Decline Strengthens Amid Bearish Momentum.

Solana (SOL) is currently 15% below its all-time high reached on November 22, and its market cap is now $107 billion, surpassing tech giant Xiaomi. Although there was a positive BBTrend on December 8, indicating some upside, it has since weakened and is now at 0.66, suggesting that the trend may reverse soon.

Meanwhile, SOL's DMI chart shows a rising ADX of 26.2, indicating that the strength of the trend is increasing, although the negative momentum remains dominant. As the EMA lines turn bearish, the price of SOL may experience further declines, which may test the support levels as low as $215 in the near term.

SOL BBTrend is positive, but that could change soon.

After going negative between November 27 and December 6, the Solana BBTrend reached 2.8 on December 8.

However, it is currently at 0.66, which indicates that the positive trend is weakening.

BBTrend is a technical indicator derived from Bollinger Bands. It measures the strength and direction of a trend. A positive bbittrend value indicates upward momentum, while a negative value indicates downward momentum.

Although SOL's BBTrend has been positive recently, the current decline indicates that the trend may not be strong enough to sustain an upward move. If BBTrend turns negative again, it could indicate a downtrend for SOL, possibly leading to further price declines.

Solana Downtrend became strong but appeared stable.

Solana's DMI chart shows that the ADX is currently at 26.2, up from around 16 a day ago.

This indicates that the strength of the trend is increasing, which indicates the beginning of a more obvious movement.

ADX (Average Direction Indicator) is a technical indicator used to measure the strength of a trend, regardless of its direction. It ranges from 0 to 100, and values ​​above 25 indicate a strong trend, while values ​​below 20 indicate a weak trend. Currently, SOL's ADX at 26.2 indicates that the trend is gaining strength.

Despite this, SOL is in a downward trend as D+ (positive direction indicator) is at 8.6, D- (negative direction indicator) is at 25.8. Although it is stable after reaching D-25, it still shows that the negative trend is dominant, which can continue the downward trend unless the SOL speed changes.

SOL Price Prediction: Will SOL Fall to $215 in December?

The SOL EMA lines are currently showing a bearish trend with the short-term lines trending down and the price settling below them. One of the short-term lines crossed the long-term line, indicating further downward pressure.

If this trend continues, Solana price may test the support at $221, and if this level fails to hold, the price may drop to $215.

However, if the trend gains strength, the price of SOL may recover and rise to test the resistance at $246, indicating a potential upside of 10% from the current level, especially if some of its big apps like Pumpfun and Raydium continue to attract users and volume.