Red encryption markets are drawn today, with a decrease in the S&P 500, nearly 3 % in the past few days. The price of Solana, which was already trading in a sunken ship, saw an increase in the pressure pressure, causing the price to drop to less than 140 dollars. Currently, the price continues to experience a massive sale pressure, indicating that the following Pitstop for Solana can be close to $ 122. Now the question arises: Whether this is the time to buy Solana? Does Sol Price have a future future?
Since the MEMECOINS rugs have escalated on the Solana series, the trader’s confidence has decreased on the distinctive symbol significantly. Besides, one of the popular coding liquidity providers. In a modern update, Top Crypto Exchange, Binance, filtered huge amounts of Sol through the market maker, Wintermute. This landmark of the distinctive symbol, which is now believed to pull the Sol price.
While some believe that the platform is aware of some updates, which turned it into Solana, others feel that the exchange deliberately throws the distinctive symbol to buy low prices. Currently, the Sol price faces very upward, believed to pull the levels towards the next support below $ 120.
What is the future of the Solana Prices Rally?
The price of Solana has wiped most of its gains in the past few days, as it reached levels that have not been visited since October 2024. The price has entered the scope of axial support between $ 136.5 and $ 133.6, which offered a strong base throughout 2024. The preparation indicates that the price may Ultimately fails to defend these support levels, causing the price to be emptied to nearly $ 100.
As shown in the graph above, the Sol price has reached decisive support levels with an increase in the declining effect. RSI has reached the level that has not been visited since June 2023, while MACD since 2022. This indicates that the distinctive symbol has officially started a strong direction, which may turn to the bear market if the price fails to obtain support at $ 119. Currently, the pressure pressure is condensed, as it appears with MACD, which indicates that the price may remain a deviation.
Meanwhile, the size of the balance (OBB) has been constantly decreased since the beginning of the month, indicating that the feelings of the market have turned into a decline. Thus, the Sol price may maintain a strong descending direction for a long time.
