Solana, the well -known encryption project, has witnessed an ethereum murderer, now a significant decline, as it decreased under psychological support by $ 150. The market price decreased by 54 % of its highest level ever at $ 295.
Currently, Solana is trading a market value of $ 137 with a maximum market of $ 68 billion. Over the past seven days, Solana recorded a 20 % decrease and recently raised the support of $ 140. Will this deteriorating trend in Solana break a $ 100 psychological mark?
Solana prices collapse less than $ 140
In the weekly graph, Trend Solana Price reveals six consecutive gross candles. This comes after the upward failure to maintain psychological support of $ 250.
The declining trend has violated the EMA line for 50 weeks and is now testing the upscale dominance near the EMA line for 100 weeks. Moreover, the fall reached 61.80 % at $ 158.
Currently, with a decrease in the price rejection from $ 131, Solana is struggling to maintain the highest Fibonacci level at $ 129.90. When the trend declines, the weekly RSI line violates the mid -road level, reflecting an increase in the sale of momentum.
As the momentum index approaches the excessive border line, it leads to a signal signal. Moreover, the closure price without the EMA line for 100 weeks will increase the possibility of a declining intersection and a other technical signal.
Based on Fibonacci levels, the conclusion is likely to experience 50 % less than the Fibonacci level at $ 66 at the level of 23.60 %. On the upscale front, it is likely that it will restore the liver over $ 129, the horizontal level of $ 158.
Solana derivatives are witnessing severe fluctuations
With the ranking in the encryption market to $ 400 million compared to $ 1.5 billion yesterday, Solana Derivatives He witnessed a simple recovery. It was a long ratio to the bottom of which was recovered to 0.9849, which reflects almost equal number of upscale and duplicate situations.
However, the bears have a little stronger hand. The likely open interest in size eventually turned into a rise after turning to negativity last night.
Currently, the financing rate is 0.0061 %. Solana’s open interest decreased by 3.51 percent to $ 4.33 billion, with approximately equal number of upward and local situations.
The positive financing rate is alluded to a divisible increase in traders who have long positions.
The analyst warns of the low price of Sol to $ 65
Despite the short -term optimism in the derivative market, the transfer volume via the Solana network decreased from 1.99 billion dollars to 14.57 billion dollars today. This was highlighted by the last tweet by Ali Martinez, indicating the potential slowdown on the Solana Network.
#Solana $ Sol It appears to form a right -wing expansion pattern. A break less than $ 130 can open the door for a decrease to $ 65! pic.twitter.com/inpjrgbnh
Ali (ali_charts) February 25, 2025
Moreover, the Haile Paye analyst draws an escalation pattern of right ascending in the Solana price scheme for three days. Currently, Solana is approaching the local border line test.
In the event of a mobilization of collapse, Solana’s fall is expected to reach a sign of $ 65.
