Solana (SOL) extends its losses trading toward the $80 mark as of writing on Thursday. The price correction is further supported by the fresh US-Iran tensions weighing on risk sentiment. Weakening derivatives metrics and bearish momentum indicators suggest further correction for SOL in the near term.

Fresh Middle East tensions dampen risk appetite

Risk sentiment weakens on Thursday as the news came in that Iran’s Revolutionary Guards have targeted a US airbase after what they ⁠described as ​an early morning ​US attack near Bandar Abbas airport, reported Reuters.

The report noted that they warned that any repeat of ​what ​they ⁠called aggression would draw ​a “more decisive” response ​and ⁠said responsibility for the…