Is SOL USD Dead? The Crypto Market Is Facing Another Sell-Off

Core Insights - SOL USD is experiencing a decline amidst uncertainty in the crypto market, particularly with the upcoming ETF decision for Solana [1][2] - The price of SOL USD has been fluctuating within a two-year range of $120 to $240, with recent support found at the March 2024 high [2][3] - Technical indicators such as RSI and Moving Averages show potential for upward movement, but caution is advised as bearish signals are also present [3][4] Price Analysis - The weekly chart indicates a strong retracement with a Bullish Engulfing candle, suggesting potential for recovery [2] - On the daily chart, RSI has room to increase, and Moving Averages are trending upward, indicating a possible bullish trend [3] - The 4-hour timeframe shows a retest of a Bearish Orderblock, with Moving Averages beginning to turn upwards, but a failure to break above this orderblock could lead to lower price structures [4] Market Sentiment - There are speculations about insider selling or market manipulation as traders react to the uncertainty surrounding the ETF approval [2] - The upcoming week is critical for Solana, as the ETF decision could significantly impact market sentiment and price movement [2]