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Solana Price work is a flabby warning with condensation The level of support. Despite the previous recovery attempts, sellers are still dominant, which prevents any meaningful momentum.
If Sol fails to obtain this main support, this may lead to a wave of panic, accelerate losses and expose the price to a deeper decrease. With the ethical morale in the market in the scale, all eyes are on whether the bulls can organize the defense or whether the bears will finally collapse, which puts the way for more negative aspect.
Solana continues the declining direction in focus
The Solana price scheme currently displays the formation of a declining triangle, indicating a continuation of the declining direction. Initially, Seoul tried to separate over the upper limits of the triangle, however Go out It lacks strong bullish momentum, which leads to a rapid rejection. This failure has pushed a rising step backward towards the lower border of the triangle, as the support level is now being focused.
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With the continued pressure pressure, Solana may face an extended declining step, which is less than the current main support level and its decrease. The sure collapse below the landmark will lead to a He falls About $ 118, the first main support zone. However, if the declining momentum is intensifying, it may not be this level.
Less than $ 118, the next important support lies at $ 99, where some buyers can try to slow down. If this level fails to provide stability, Sol can slip about $ 79, a decisive psychological and technical support area.
The continued weakness in the market Feelings It may pay the price to less, with a start of $ 58. for now, Bulls She should enter to defend these levels, or Solana risk a long -standing declining stage.
It is possible to arouse $ 118 again
The support level of $ 118 appeared as a critical area for Sol, where many traders closely monitor to see if it can lead to a Climb turn around. Historically, this level was a strong demand area, as buyers intervened to accommodate the pressure pressure and pay prices up. If the similar market behavior is run, Seoul may see a recovery from this point.
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According to CurB, in X post On March 15, Solana’s eyes were expected to price Decrease To the support level of $ 118 before you suffer from a possible recovery. He believes that strong demand in this region can lead to a significant increase in prices to $ 1,000 in the long run.
Basic factors, such as positive news about the ecosystem of Solana, increased network dependence, or improving comprehensive market morale, can also act as a catalyst for price recovery. It is likely to provide an increase in the purchase of whales and institutional investors, the momentum needed to change market morale.
Distinctive image from Adobe Stock, Chart from TradingView.com
