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Crypto Trends

Solana (Sol) is approaching $ 160: Is it a decrease to $ 135?

Amid the increasing fluctuation of encryption, Solana struggles with the continuous correction phase. With its fourth consecutive day, the Sol price trend decreased to $ 171.09.

With a decline during the day by 3.62 %, Solana endangers decisive support levels. Let’s discover.

Sol Breaks Breaks Key Trendline: $ 135 on charts

In the daily price scheme, Solana represents multiple events. Through its four consecutive candles, the Sol PRICE trend erupted to less than the EMA line for 200 days, 61.80 % of the Fibonacci level at $ 184, and long support.

Solana price scheme

With multiple breakdowns, the Sol price recently tested the Vibonacci level by 78.60 % at $ 162.87. Currently, with a slight decline, Solana has returned to the top of $ 170, as the rejection of the low price hints to a possible re -test.

With a rally collapsed, EMA lines for 50 days and 100 days are about to give a landing cross. However, the daily RSI line has reached the level of sale limits, which led to a bullish reflection the last time.

Solana Network Slowdown raises red flags

Increasing the chances of collapse, highlighted Ali Martinez, an encryption analyst, multiple changes in the Solana Network. FirstlyThe total transferred volume across the Solana network has witnessed a significant decrease since November.

It has decreased from two billion dollars to only 26 million dollars in the past few months. Moreover, the number of active titles on Solana network He decreased from 18.5 million to 8.4 million.

This is a great slowdown in the Solana network and warns of an acute accident in case the demand fails to appear.

Solana price goals

The low rejection of the price in today’s candle supports the upcoming return chances. However, the huge general expenditures of the width near the width area of ​​$ 180 will likely lead to a post -test reflection.

According to Fibonacci levels, the post -test rally in Solana is likely to be broken below the level of support of $ 162. In such a case, the following support levels of Solaa stand at $ 135 and a $ 100 psychological brand.

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