Solana has taken sharp, lost approximately 22 % of her value and trading about $ 98.09. This sharp decline has sent shock waves across the encryption community, which raised fears of the biggest imminent separation. Seoul is now flashing red in all fields, with sellers firmly in control and bulls are defending to defend critical levels.
The decline sheds light on the increase in the homogeneous feelings, which are likely to be fueled by technical faults, poor market confidence, and increasingly over the wider economic trends. With the psychological barrier of $ 100 now, all eyes are in the following main support areas.
Is a deeper correction on the horizon?
In his speech After xKing_ab highlighted that Solana is currently trading about $ 98.09, which represents a sharp decrease of 21.84 % of its previous closure. He also pointed out that the trading session per day was very volatile, as Sol amounted to 120.07 dollars and decreases to 98.06 dollars, which confirms the severe pressure in the market.
According to King_ab, this significant decline in Solana reflects the broader shrinkage in the cryptocurrency market during the past week. This decline is not isolated, but it is part of a wider direction of risk morale, as investors interact with the global inexpeity of the macroeconomic economy and market dynamics.
He pointed out that the market value in Solana is currently about 51.15 billion dollars, while the trading volume for 24 hours hovering about 5.17 billion dollars, indicating the continuous trading activity despite the sharp correction. This mixture of low price and high size may indicate either paniced or aggressive sale by market participants
Cash support was breached: Can Solana keep the line less than $ 100?
Solana decrease below Mark $ 100 indicates a possible transformation in momentum from climbing to landing. This level was previously a strong support zone, providing a point binding during corrections. However, with the last 21 % decrease, this line has been violated, and market morale grows increasingly.
In order for Seoul to regain his upscale momentum, it needs to restore and preserve levels that exceed $ 100 to avoid more negative pressure. If this main level remains unexpected, Solana may decrease to the following support zone about $ 79.25. The lower level of this level may accelerate the homosexuality, which opens the door to an extended decrease towards the support zone of $ 58.25, as the bears may get additional control.
In this critical turn, it is necessary to closely see the price movement of stability marks or the risk of continuing surrender. With the high volume of decline, Solana’s ability to restore the level of broken support in the short term. Whether the price can recover higher than the main levels, it will be a crucial factor in determining whether the declining direction will continue or if the reflection is on the horizon.
