Solana, the fifth largest encrypted currency in the world according to the maximum market, failed to keep strongly and is now preparing for a decrease in prices. The current market morale appears to be declining, as the main assets suffer from noticeable declines. Sol also collapsed with its decisive support level of $ 180.
Solana (SOL) has made prices and the next level
According to expert technical analysis, Sol received support from this decisive level since November 2024 and tested it several times.
However, this time, with the asset failure to maintain it, it loses this main level and closes a daily candle less than $ 180, partially confirming a huge step. Based on the modern measures of historical prices and patterns, there is a strong possibility that Sol will witness a 15 % decrease, reaching a level of $ 155 in the coming days.
At a value of $ 115 million, it deserves the external flow
After this remarkable collapse, investors and their holders accumulate in the long run, as stated by the Analysis Company on the series Coinglass. The immediate flow and external flow data reveals that exchanges have witnessed a large flow of $ 115 million from the original, indicating a possible accumulation.
In this declining direction in the market, these external flows can create purchase pressure and may lead to a fresh price.
However, it appears that traders during the day are following long -term holders, as they seem to bet on the long side.
A long bet of $ 45 million
The data shows that merchants who occupy long jobs dominate the assets and are excessive in the record at $ 174.3, and its value is $ 45 million in long positions. With such important open situations, this level works as decisive support.
On the contrary, $ 180 is another major level where traders who hold short positions are excessive, with a value of $ 15.50 million from short positions. This indicates that the sellers are exposed to exhaustion, which may help the bulls restore the level of lost support.
Current price momentum
Sol is currently trading near $ 177 and has witnessed a 6 % decrease in prices during the past 24 hours. During the same period, the trading volume increased by 110 %, indicating an increase in participation of traders and investors amid low prices.
