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Solana is currently testing a critical demand area near the level of $ 150 after enduring weeks of persistent sales pressure and a wider change in the feeling of the market. The asset is now negotiated at around 20% below its May 185 summit, with recent recovery attempts faced with strong resistance. Despite detention above major support for the moment, the overall structure suggests that the risk of decline remains if market conditions are not improving soon.
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The Top Efloud analyst shared a technical analysis on X, highlighting the importance of monitoring Solana’s response to a wider Bitcoin dynamic. He noted that if Bitcoin (BTC) continues to consolidate aside while the domination of Bitcoin (BTC.D) increases, altcoins as soil can fight. In this case, Solana could continue to meet to find stronger support at mid-term, especially around $ 123 levels and $ 116.
These price zones have previously acted as solid support / resistance zones and could serve as key inflection points should persist the bearish momentum. Ventilation towards these objectives would probably coincide with the increase Altcoin market. Until then, Sol remains vulnerable in a fragile technical structure, and the merchants watch closely for a rebound or a deeper correction in the coming days.
Solana holds a key support as an analysts Haussiers scenarios for the eyes
Solana is currently negotiating about 50% compared to its peaks of all time, with the explosive momentum seen at the end of 2024 now replaced by a more moderate price action. The asset sub-performance has left prudent investors, but many analysts remain optimistic about Solana’s potential once a new Altcoin rally begins. For the moment, the emphasis is placed on the maintenance of critical demand zones which could determine if soil is preparing for recovery or new decline.
According to EfloudIf Bitcoin continues to consolidate laterally while Bitcoin dominance increases, Solana could find support for several mid-term areas, in particular about $ 123 and $ 116. The region of $ 140 has historically acted as a solid support / resistance flip, and a deviation around this level – losing it briefly before finding it with force – could present a short -term purchase opportunity.
Efloud notes that this scenario does not necessarily imply that Sol must fall at these levels, but current market conditions – from Bitcoin – Structures of solid pairs. If soil can break decisively above the resistance of $ 168, a new leg up could be triggered, with $ 230 potentially acting as the next main resistance zone.
On the floor / BTC pair, Efloud looks at a recovery of the level of 0.0015 or a withdrawal to 0.00115 for confirmation. Another key support is at 0.000988 SATS.
Despite the current cooling, the structure can always offer solid opportunities for new entrants. If these levels are maintained and the macro-clippings improve, Sol could prepare the way for a sustainable rally, which has finally led to new heights of all time.
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Weekly graphic analysis – Maintain the line near the key support
Solana is currently negotiating at $ 148.33 on the weekly deadline, showing a decrease of 3% in the last seven days. The price has dropped approximately 20% compared to its May summit of around $ 185 and is now testing the critical support area from $ 140 to $ 150. This level acted several times as a pivot point in the past and could define the short -term soil trajectory.
The graph shows that Solana has not been able to recover the 50 -week mobile average (currently nearly $ 170), which now acts as key resistance. A decisive weekly fence above this level would open the door to a bullish continuation around $ 185 and possibly $ 200. However, not to hold over the 100-week mobile average around $ 132 could cause new downward pressure, with $ 123 and $ 116 such as the next demand areas to monitor-the levels identified by analyst Efloud in his scenario in mid-zones.
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The volume has decreased regularly in the last three weeks, the signaling has reduced participation, but also suggesting that the aggressive sale is fading. If the Bulls manage to recover $ 160 with conviction, the structure remains favorable. For the moment, Sol remains in a consolidation phase, pending a break or another correction as market conditions for wider cryptography take place.
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