Solana price flashes bearish: Is a deeper drop coming?
SOL has produced a bearish engulfing candle at the $167 resistance level, a classic price-action signal that sellers recently overwhelmed buyers. That pattern suggests momentum is turning against bulls and increases the probability of a corrective move if follow‑through selling appears on the next sessions. Confirmation will be important: a decisive close back above $167 would negate the signal, while continued weakness could open the door to lower support levels.
For traders and holders this matters because a failure to reclaim resistance can accelerate short-term selling and influence broader market sentiment around SOL. Risk-conscious participants should wait for clear confirmation—either a reclaim and clean close above $167 or a sustained break below nearby support—before adjusting size or leverage. Monitoring volume, orderbook behavior, and on-chain flows can help distinguish a genuine breakdown from a false signal.