Solana Faces A Trend Decision, But The Bull Case Prevails

The price of Solana is facing an extremely important trend decision in the 1-day chart. Will the uptrend continue or will it be invalidated? The latter could threaten a drop to the psychologically important $20 level.
A look at the 1-day chart shows that SOL failed in several attempts at the 200-day Exponential Moving Average (EMA) (blue) in mid-April. The indicator has an extremely high significance for the long-term trend.
While Bitcoin and numerous altcoins are already trading above the 200-d