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Solana’s [SOL] recovery thwarted – Will bears enjoy more benefits?

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Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Solana’s [SOL] value has fallen significantly since 20 February, dropping from $27 to $20 before bulls attempted a recovery.

However, the recovery hit a key roadblock that could offer bears more influence in the market. Read Solana’s [SOL] Price Prediction 2023-24Source: SOL/USDT on TradingView After the price rejection at $27.14, SOL’s momentum declined as bulls toiled below the descending line (orange, dashed).

At the time of writing, the recovery faced rejection at the descending line, setting the stage for bears to re-enter the market.

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