Solana sees an analyst of $ 123 and $ 116 as support levels from the central region-Here is the reason
The cause of confidence
The strict editorial policy that focuses on accuracy, importance and impartiality
It was created by industry experts and carefully review
The highest standards in reports and publishing
The strict editorial policy that focuses on accuracy, importance and impartiality
Morbi Pretium Leo Et Nisl Aliguam Mollis. Quisque Arcu Lorem, Quis Quis Pellentesque NEC, ULLAMCORPER EU ODIO.
Solana is currently testing a decisive demand area near the level of $ 150 after weeks of continuous sale pressure and a wider transformation in the market morale. The original is now trading by almost 20 % less than a height of $ 185, with recent attempts to recover facing strong resistance. Although keeping the large support above at the present time, the general structure indicates that the risk of the negative side is still if the conditions of the market are not improved soon.
Related reading
VIPs, Efoud, participated in a technical analysis of X, highlighting the importance of tracking Solana’s response to the broader Bitcoin dynamics. He pointed out that if Bitcoin (BTC) continues to unify sidely while Bitcoin (BTC.D) increases, Altcoins like Sol will struggle. In this case, Solana can continue to restore stronger support in the middle regions, especially about $ 123 and $ 116.
These price areas were a strong support/resistance areas and could serve as major turning points that should continue to momentum. The collapse of these goals is likely to coincide with increasing caution from BTC.D and continuing caution in Altcoin Market. Until then, Sol remains at risk within a fragile art structure, and traders will closely monitor either to the deepest or deeper correction in the coming days.
Solana holds the main support as the climbers of the analysts
Solana is currently trading 50 % of its highest levels ever, as the explosive momentum has now been replaced at the end of 2024 with more disturbing price procedures. The original performance has left the origin of investors cautious, but many analysts are still optimistic about the capabilities of Solana once the new altcoin gathering begins. At the present time, the focus is on keeping the critical areas of demand that can determine whether Sol is preparing for healing or the downside.
According to EFLOUDIf Bitcoin continues to unite the side with the high bitcoin dominance, Solana may find support in many areas in the middle of the regions, especially about $ 123 and $ 116. The region, which is worth $ 140, has worked historically as a strong support/resistance heart, and a deviation around this level-its loss for a short period before it is strongly restored-it can provide a short-term opportunity.
Efloud notes that this scenario does not necessarily mean that Sol should decrease to those levels, but the current market conditions – on the other side of Bitcoin – conclude strong pair structures. If Sol managed to collapse decisively to resist $ 168, a new leg may be operated up, as it is likely to be $ 230 as the next main resistance area.
On the Sol/BTC pair, it is monitored to restore the level of 0.0015 or decline about 0.00115 to confirm. Another main support sits on 0.000988 Sats.
Despite the current cooling, the structure may still provide strong opportunities for new expatriates. If these levels are possible and improve the total conditions, Sol may be the theater to transform a sustainable march, which ultimately leads to its highest levels ever.
Related reading
Weekly plans analysis – the line is near the main support
Solana is currently trading at $ 148.33 on the weekly timetable, indicating a 3 % decrease over the past seven days. The price has decreased nearly 20 % of its highest level in May, about $ 185 and is now testing the support zone ranging from 140 to 150 dollars. This level has been spent over and over again as a pivotal point in the past and can determine the Sol path in the short term.
The graph shows that Solana has not been able to restore the moving average for 50 weeks (currently near $ 170), which is now working as a major resistance. The decisive weekly closure above this level would open the door for my upward continuation of $ 185 and perhaps $ 200. However, the failure to stick to more than 100 weeks on average to about $ 132 can increase pressure on the negative side, with $ 123 and $ 116 as the following demand areas that must be seen-the levels set by the analyst Efoud in the average area of the region.
Related reading
The volume has decreased steadily over the past three weeks, indicating a decrease in participation, but also indicates that aggressive sale fades. If Bulls can recover $ 160 with condemnation, the structure will remain favorable. At the present time, Sol remains in the standard of monotheism, waiting for either collapse or additional correction as the conditions of the wider encryption market are revealed.
Distinctive image from Dall-E, the tradingView graph
