Solana fell below the 50-day SMA ($141) on Oct. 2, indicating that the price may remain stuck between $116 and $164 for a few more days.

The bulls will try to push the price back above the moving averages, but if they fail to do that, the SOL/USDT pair could slide to the solid support at $116. Buyers are expected to vigorously defend the level.

Alternatively, if buyers thrust the price above the moving averages, the pair may start its journey toward $164. A break and close above this level will complete an inverted head-and-shoulders pattern, having a pattern target of $208.