Solana's [SOL] falling wedge breakdown reignited its near-term bearish inclinations, and a break below the current pattern can open doorways for a near-term decline.

SOL's recent movements have chalked out a bearish pennant on the chart, which could aid the sellers in testing the $31-$32 range in the coming sessions. However, a compelling close above the 61.8% support could help buyers prevent further drawdowns.

The Relative Strength Index failed to find a spot beyond the 45-mark resistance over the last few days, and the Accumulation/Distribution line registered lower troughs. Thus, it could help the buyers hold the 61.8% level on the chart.