Solana Price appears to have formed a local summit after the last height in the application revenue. At the time of the press, Sol is trading $ 183, which represents its lowest level in two weeks. Constant declining pressure pushes Seoul towards the level of decisive support, its collapse can begin in a strong, downward direction.
The analyst calls the local summit in Solana
According to the 0XNGMI analyst on X, a rise in Solana application revenue coincides with local tops. For example, the Sol value was the highest level ever at $ 294 on January 19, 2025, one day before the application’s revenue has risen to record high levels.
Despite the constant noise of the coin on Solana after the last Mimi Al -Miz’s launch A currency, the application revenue on the network has decreased significantly. Each DEFILAMA Platform for Comprehensive Finance (Defi) has decreased to $ 1.9 million, which is approximately 95 % of a record decrease of $ 35 million registered on January 20, 2025.
Given that the application revenue is now decreasing, it indicates that Sol faces downward trends that can push prices to a decrease.
However, according to another analyst Dynamo_patrickThe application revenues can also be used to measure local bottoms, which is the price in which new buyers enter the market. He pointed out that in May and September last year, Solana has achieved a local bottom, as the application revenue decreased to its lowest fresh levels.
If rhymes and the pressure pressure reduce the return of buyers on the market, this may be a bullish reflection of the Sol.
Solana Price faces $ 2 billion in the sale of pressure
Solana also faces the pressure pressure due to the upcoming lock of 11.2 million Solly at a value of approximately $ 2.06 billion. According to the X user ai_9684xtpaThese symbols were sold during the FTX bankruptcy auction in 2024.
As COININAPE mentioned, FTX bankruptcy Get rid of 41 million Soul icons Through an auction that caught the attention of companies such as Galaxy Digital and Pantera Capital. These symbols were subject to a timetable as they would be released gradually to the market for four years.
The first batch of these symbols will be canceled in less than two weeks, and if sold, you may put the low pressure on the price.
Can Sol keep the support level of $ 175?
Sellers are already active as shown in the decrease in the RSI index (RSI) to 36, indicating that the momentum is declining. Sol has also been traded on a 200 -day simple moving average (SMA) at $ 183, and if you close less than this long -term support, it will confirm that there is a shift in feelings that may precede a decrease to the level of support at $ 175.
On the contrary, if Sol successfully defends the 200 -day SMA support, it needs to gather via SMA for 50 days ($ 212), which will ignite the resumption of upward trends.
Analysts also speculate that despite these opposite winds, Solana Price’s expectations are still upward. according to Daniel CheungSolana Blockchain’s growth and attachment to the boxes circulating on the stock exchange (ETFS) well for the price.
Related questions (common questions)
Historical trends indicate that the peak in the Solana application revenue indicates that the price may reach a local top.
Solana tests support in SMA for 200 days, and if it is closed without this level in strong sizes, the price may violate multiple support at $ 175.
Solana can exceed $ 200 if buyers in SMA look for 200 days as a good entry point. However, for a continuous gathering after $ 200, Sol needs to exceed SMA for 50 days.
Metouni
Responsibility: Is market research before investing in encrypted currencies? The author or post does not bear any responsibility for your personal financial loss.
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