Solana (SOL), a popular cryptocurrency, is approaching a crucial support level at $128.49, which, if breached, could lead to a significant price drop. The coin's price has been declining since May 20, forming a descending triangle pattern, a bearish sign indicating high selling pressure. If the bulls fail to defend this support level, SOL's price may plummet to $113.943, signaling a continuation of the downtrend.

Solana's key indicators, such as the Relative Strength Index (RSI) and Money Flow Index (MFI), suggest low demand among market participants, with RSI and MFI values of 33.17 and 29.95, respectively. This indicates that selling pressure outweighs buying activity, increasing the likelihood of a bearish breakout. The Moving Average Convergence/Divergence (MACD) also signals a bearish trend, with the MACD line resting below the signal and zero lines, a sign for traders to exit long positions and take short ones.

If the bulls fail to defend the support level, SOL's price may experience a significant decline. However, if market sentiment shifts and demand for SOL grows, the coin's price could climb toward $142.45. The outcome depends on the bulls' ability to hold the line against the looming sell-off.

Solana's price action has been closely watched by traders and investors, with many analyzing the coin's key indicators to predict its future performance. The current bearish trend and low demand suggest a challenging road ahead for SOL, but a shift in market sentiment could quickly turn the tables. As the cryptocurrency market continues to evolve, Solana's price movement will be closely monitored, with many eagerly awaiting the outcome of this critical support level test.