#SOLUSDT $SOL

Negative news about Solana continues throughout November

Especially strong sell waves, combined with weak technical structure, making any current rebound weak and unconvincing.

On the H4 frame, SOL is steadily moving within the descending channel in purple, where the price is repeatedly rejected at the 34 EMA and 89 EMA averages - reflecting a clear dominance of sellers. The Relative Strength Index (RSI) remains between 39 and 42, indicating weak demand and an increased susceptibility of the market to decline further under any selling pressure.

The $130 area constitutes immediate resistance, representing the upper limit of the channel as well as being a strong supply zone. If SOL rebounds toward this level, it is likely that the rebound will be merely a corrective movement before resuming the decline towards the $110 target, where this matches.