Solana, a prominent blockchain platform, is experiencing a significant downturn in its market. The price of its token, SOL, has dropped below the $140 support mark, signaling potential further losses. This decline is attributed to a combination of factors, including technical indicators and market sentiment.

The 4-hour and 1-day charts show that SOL is bearish, trading below the 100-day Simple Moving Average (SMA). The Relative Strength Index (RSI) also suggests a further decline, as the signal line is attempting a reversal below 50% and heading towards the oversold zone. These indicators imply that SOL's price may continue to drop in the near future.

Currently, SOL is attempting a downward move towards the $118 support level. If it breaks this level, it may continue to move down to test the $99 support level and potentially even lower levels. However, if it fails to move downward and breaks above the $140 mark, it may start a move towards the $160 resistance level, potentially even reaching $188 or $205.

The price of SOL has decreased by 0.57% in the last 24 hours, trading at around $133, with a market capitalization of over $61 billion and a trading volume of over $1.9 billion. Despite the decline, Solana's market capitalization has increased by 12.94% in the last day, while the trading volume has decreased by 9.84%.

In conclusion, Solana's price is facing a significant downturn, and its future performance is uncertain. While technical indicators suggest further losses, the potential for a rebound cannot be ruled out. Traders and investors are closely monitoring the situation, seeking signs of a possible reversal or additional declines in the near future.