Solana (SOL) has recently faced significant price pressure after climbing to $160, resulting in a 4.54% decline over the past 24 hours. This drop follows a strong rally where Solana reached a high of $156.49 on August 27. However, the price soon retreated to an intra-day low of $143.32 and was trading around $147.11 at the time of the report.Despite this recent dip, the overall trend for Solana remains cautiously optimistic. The short-term 9-day moving average still holds above the long-term 21-day moving average, indicating some lingering bullish sentiment. The token's RSI (Relative Strength Index) is at 47.02, signaling that market sentiment is nearing a neutral stance following the latest selling pressure.This decline in Solana's price is not occurring in isolation. The broader cryptocurrency market has also seen downturns, with major cryptocurrencies like Bitcoin and Ethereum experiencing declines.

wow solana's been on a rollercoaster ride lately! hoping it bounces back soon. 🚀🪙