- Solana is trading at $ 173, an increase of 1.14 % in 24 hours, although a monthly decrease of 11 % and 32 %.
- Opening the distinctive symbol of $ 2.5 billion in March nourishes the downward view with support at $ 155, while the resistance level is at $ 204.
- The RSI index explains the possibility of a gathering with a Sol approach to the level of $ 187 and $ 207 if the purchase pressure is suspended.
The encryption market has regained slightly, as the total market size and trading volume increased 24 hours by 0.30 % and 6 % to 3.18 trillion dollars and $ 102 billion, respectively. Moreover, the market remains in the morale of fear with a decrease in the index to 37.
Solana (SOL) was circulated in a recent landmark, as its price has fell from its highest level ever at $ 295 to the level of $ 160. After correcting the wide market in late January, Seoul witnessed a sharp decline, as it decreased to less than 200 dollars.
However, Sol recovered a $ 200, which was merged until mid -February. the coming The cancellation of the lock of 11.2 million Sol icons led to about 2 billion dollars on the first of March, and it fueled the declining direction of Solana, which led to a sharp drop to the $ 160 region.
At the time of the press, Sol recovered a little, as it was circulated at $ 173, an increase of 1.14 % over the past 24 hours, according to CMC Data. Altcoin decreased by 11 % and 32 % on the weekly and monthly, respectively. In addition, the maximum market increased to 84.86 billion dollars, while trading volume decreased to $ 5.12 billion.
The possible recovery of Solana, despite the recent low prices
Solana has seen a sharp decrease over the past two days. The ongoing sale is linked to opening the distinctive symbol of $ 2.5 billion in March, which increased the dumper morale. As a result, the price decreased to $ 166. The analyst highlighted the first major support at $ 155. If this level fails, the following important support lies about $ 133.
$ Sol He has been in a free fall since the past two days.
The main reason behind this extreme fall is to open $ 2.5 billion in March, making feelings down. The main support of Solana is in red.
The first support is about 155 dollars, if the next station is broken … pic.twitter.com/drrR9kclrvd
– Crypto General 🧲 (Dacryptogeneral) February 18, 2025
Despite the last contraction, long -term expectations remain optimistic. Technical indicators indicate that adding places near the main support areas can be a viable strategy. Meanwhile, resistance levels may work at $ 204 and $ 288 as possible recovery points if you buy pressure.
Will the bulls reflect the continuous declining trend?
Technical indicators on the graph for 4 hours a bullish reflection of the continuous declining direction. Sol formed many green candlesticks that cut off the descending canal that forms a structure of the upscale flag.
Indicators such as the RSI indicator (RSI) indicate an imminent Sol gathering. The relative power index is steadily rising from the sale area in 40 indicators, indicating additional growth space. The gathering over the neutral area can be paid towards the excessive area in the peak area of the instant resistance price in the $ 187 region.
source: Tradingvief
A successful gathering can pay over $ 187 for the following resistance at $ 207 and pay a break above $ 220. If the upscale thesis fails, the level of support in the $ 160 region will be an obstacle to prevent more losses.
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