Solana (SOL) recent market performance has attracted the attention of investors. From a medium-term time scale perspective, SOL is currently in a downtrend, and the current trading price has fallen below the medium-term moving average, which suggests that bearish forces are dominating the market direction.

Further observation of the short-term market shows that SOL exhibits characteristics of a rally followed by a fall, reflecting significant selling pressure in the market. This price movement pattern indicates that although there is buying support, the selling pressure is stronger, resulting in the price failing to sustain an upward trend.

Based on the current market situation, investors may need to remain cautious. If the price rebounds in the range of $164.7 to $163.7, it may attract more selling pressure. A conservative estimate suggests that in the short term, SOL may test the support levels of $161.49 to $160.49.

However, the cryptocurrency market is ever-changing, and investors should fully assess risks before making any decisions, combining technical indicators and fundamental factors for a comprehensive analysis. At the same time, it's important to closely monitor the overall direction of the cryptocurrency market, as it often has a significant impact on the performance of individual tokens.