Solana Price Plummets to Historic Lows Amid Extreme Bearish Momentum

Solana's price continues to decline, reaching a staggering 80% drop from its all-time high. This prolonged losing streak marks the longest in the cryptocurrency's history, with eight consecutive red monthly candles.

The Relative Strength Index (RSI) has reached historic oversold levels, surpassing those seen during the 2022 FTX crash. This indicates extreme bearish momentum and a weakening market structure.

Traders and analysts are closely monitoring key resistance and support levels, which lie between $76 and $83 for resistance, and $53, $35, and $24 for support. These levels will be crucial in determining the next course of action for Solana's price.