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Solana (SOL) acts at the lowest price level since September 2024, because the entire crypto market is struggling with anxiety and intense sales pressure. Solana has lost more than 55% of its value in less than six weeks, so that the profit from his rally is deleted after the elections and has expressed concern among investors about a potential long -term downward trend.
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Panic has taken over the market and traders are afraid that Solana’s correction can continue at lower price levels. Despite several attempts to reclaim the momentum, Bulls could not defend important demand zones, so Bears can keep control.
Top analyst Ali Martinez shared a technical analysis of X, which stated that Solana seems to experience a macro trend shift from Bullish to Bearish. If SOL does not quickly restore the key levels, this can indicate a deeper downward trend and further sales pressure in the coming weeks.
For the time being, investors are looking closely at Solana’s next step. If SOL can regain the most important resistance levels, this can stabilize and possibly cause a recovery. However, failing to maintain above current prices can lead to an extensive Bearish phase, which increases the risk of further decreases.
Solana confronted with serious sales pressure
Solana trades under crucial daily support levels, which means that the bullish structure setting is invalid that held many traders. The price promotion is weak, now caught with Solana in a high time frame between $ 120 and $ 220. If bulls do not defend the bottom of this range, Solana can run the risk of a long -term bear market.
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The current price loss suggests that bears remain control because the sales pressure continues to mount. Solana has difficulty reclaiming the momentum, and the once upward trend that started in July 2023 runs the risk of collapsing. Analysts now follow whether SOL can hold above the support level of $ 120, because a non -this cannot cause a deeper correction.
Martinez’s technical analysis states that Solana seems to experience a macro trend shift. Martinez explains that the bullish trend that began to break in mid -2023 is about to break, and if Sol continues to lose the most important demand levels, this can confirm a bearish phase in the long term.
Investors are now waiting for a confirmation movement. If Solana can regain the most important resistance levels, Bullish Momentum can be restored. However, if the price does not hold support and breaks under $ 120, this may indicate the start of a Bears market for Solana.
Praise tests in the long term demand
Solana acts at $ 130 after a decrease of 33% in less than two weeks. The market is in panic mode, with sales pressure overwhelming bullish attempts to reclaim important levels. Bulls have lost control of the price action and Solana is struggling to find strong support.
At this stage is the most crucial level to retain $ 120. If SOL falls under this figure, this can cause a deeper correction and push the price into unknown Bearish area. However, if buyers intervene and defend this level, Solana can stabilize and prepare for a potential recovery rally.
For a trend removal, SOL must reclaim the level of $ 160 as quickly as possible. This would help to restore the Bullish Momentum and switch the market sentiment back to optimism. However, this process can take time, especially in view of the current uncertainty and broader market weakness.
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A consolidation phase on the range of $ 120 – $ 140 is possible before a meaningful recovery takes place. If Solana begins to rise above support and demand, a strong bouncer could follow. However, not holding these levels can confirm a bearish trend, so that the correction is further expanded.
Featured image of Dall-E, graph of TradingView
