Solana (soil) has been negotiated at its lowest price level since September 2024, because the entire cryptography market is fighting for fear and intense sales pressure. Solana has lost more than 55% of its value in less than six weeks, erasing the gains from its post-electoral gathering and raising the concerns of investors concerning a potentially prolonged downward trend.
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Panic has resumed the market, and merchants are afraid that Solana’s correction will be able to continue in lower price levels. Despite several attempts to recover the momentum, the bulls could not defend the key demand zones, allowing bears to maintain control.
The superior analyst Ali Martinez shared a technical analysis on X, declaring that Solana seems to experience a macro trend from the bullish to the lowerness. If Sol does not manage to recover the key levels soon, this could point out a deeper drop trend and a sales pressure more in the coming weeks.
For the moment, investors are looking closely Solana’s next movement. If soil can recover the levels of resistance of the keys, it could stabilize and possibly trigger recovery. However, non-compliance with current prices could lead to a prolonged downward phase, increasing the risk of additional declins.
Solana faced with serious sales pressure
Solana is negotiated below the levels of crucial daily support, invalidating the thesis of the upward structure that many traders held. The price action has been low, Solana is now captured in a sharpened delay range between $ 120 and $ 220. If the bulls do not defend the lower end of this beach, Solana could face the risk of an extended lower market.
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The current price distribution suggests that the bears remain in control because the sales pressure continues to rise. Solana had trouble recovering the momentum, and the formerly strong upward trend that began in July 2023 risks collapsing. Analysts now monitor if soil can keep above the support level of $ 120, because a failure to do so could trigger a deeper correction.
Martinez technical analysis declares that Solana seems to experience a change in macro trend. Martinez explains that the upward trend that started in mid-2023 is about to break, and if soil continues to lose key demand levels, it could confirm a long-term lower phase.
Investors are now awaiting a confirmation decision. If Solana can recover the levels of resistance of the keys, the bullish momentum could be restored. However, if the price does not hold the support and decomposes below $ 120, it can indicate the start of a lower market for Solana.
Long -term price test
Solana is traded at $ 130 after having dropped 33% in less than two weeks. The market is in panic mode, with the sale pressure of an overwhelming upward attempt to recover key levels. The bulls have lost control of price action and Solana is struggling to find strong support.
At this point, the most crucial level to hold is $ 120. If soil falls below this brand, it could trigger a deeper correction and push the price into an unexplored lowering territory. However, if buyers intervene and defend this level, Solana could stabilize and prepare for a potential recovery rally.
For a trend reversal, Sol must recover the level of $ 160 as soon as possible. This would help restore the bullish momentum and change the feeling of the market towards optimism. However, this process could take time, in particular given the current uncertainty and the wider weakness of the market.
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A consolidation phase around the fork from $ 120 to $ 140 is possible before any significant recovery. If Solana keeps support and demand starts to increase, a solid rebound could follow. However, non-compliance with these levels could confirm a downward trend, further extending the correction.
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