Solana Price Recovery Faces One Problem: Market Balance Tilts Bearish Again

Solana's price is struggling, down nearly 31% over the past month, as recovery attempts quickly fade due to an unsustainable market balance. Technical indicators, like the 50-day EMA approaching a crossover under the 100-day EMA, suggest buyers are losing control. Furthermore, the On-Balance Volume (OBV) remains below a descending trendline, preventing sustained rebounds. Exchange data confirms this bearish tilt, showing a shift from significant SOL outflows to inflows around November 5th, indicating traders are offloading tokens. For a lasting recovery, Solana needs sustained outflows, a rising OBV breaking its trendline, and the EMA crossover to flatten. Key support is at $146, with resistance at $168; failure to achieve these technical shifts means bearish pressure will likely continue to suppress any price gains.

(Source：BeInCrypto)