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As most of the encryption market remains in red, Solana (Sol) began to recover from the sharp market correction. The price of the cryptocurrency has increased by 7.5 % in the past 24 hours, as it recovered from its lowest level in three weeks, prompting some analysts to suggest that the bleeding may have ended.
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Solana decreases to the lowest level in three weeks
During the weekend, Solana recorded 27 % of its highest level on Friday to the lowest level in three weeks at $ 175. This performance was followed by the collapse of the total market, which was fueled by the recently announced tariff for the US President on the three largest commercial partners in the country.
On February 1, the White House revealed that Donald Trump was carrying out a new tariff on the goods imported from Canada, Mexico and China. This measure was met with similar responses from the neighboring countries, which announced that they would implement definitions on US imports.
Fear of the global tariff war sparked a huge sale process that witnessed a decrease in the price of bitcoin to 91200 dollars and the low price of ETHEREUM to 2100 dollars. In addition, the market recorded at least $ 2.3 billion in liquidation, despite the CEO of BYBIT Proposal The number can reach $ 10 billion.
Solana lost the main support area of $ 200 and decreased to less than $ 180 on Sunday night. With the market struggle, some analysts suggested that the Sol price had risked a deeper decline. Analyst Ali Martinez indicated that Seoul could recover to $ 138 if you lose the support of $ 191 from a multiple upward channel.
Blongz coding dealer Vision The loss of support of $ 220 was “really bad” for Altcoin, as it was similar to the Habbiya difference of 2021. In addition, he invalidated “ABC from the altitudes” and made it look “more impulsive”, which requires a “miracle” to overcome.
Sol must keep these levels
Despite the decrease in decisive levels, the cryptocurrency has concluded the support area of 170 to 180 dollars and wore a mark of $ 175, in an attempt to break the resistance of $ 200 in the following hours.
The Crypto Jelle analyst noticed that Solana “regained the Trump Mementoin pump”, which has seen Sol regaining $ 220 resistance and jumping to its latest level (ATH) of $ 295.
However, Jill considered that Seoul building “The sound remained” during the decline and that the graph seemed “very solid” as the cryptocurrency recovered on Monday morning.
It should be noted that amid market bleeding, Solana was among the cryptocurrencies that showed the power. Sol, like BTC, carries its main horizontal levels, and remains within the scope of its price in the elections after the United States.
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Martinez Duplicate Outside that “in the middle of this madness, the TD sequence index offers a purchase signal on the Solana Daily chart.” Meanwhile, Miles Deutscher highlighted that BTC and Sol prices “are now higher than the pre -family of yesterday”, ” With reference High fluctuations that affect the market.
Moreover, Solana, along with BTC and XRP, is among the 10 best cryptocurrencies to record green numbers. Gil considers that if Sol is closed over the monthly and weekly support between $ 200 and 210 dollars, its strong performance will continue to re -test the $ 240 resistance and see another batch for $ 300.
As of the writing of these lines, Solana is traded at $ 211, an increase of 7.5 % in the daily time frame.
Distinctive photo of Unsplash.com, Chart from Tradingview.com
