Solana “still wants lower” because Meme coins are in front of a stern shock – an analyst

Published on:

This article is also available in Spanish.

Over the past few days, Solana has had significant downward pressure, falling by over 15%, because the wider cryptographic market experiences the sale of speculation and uncertainty. Meme, which was the main catalyst of the recent Solana growth, now see huge losses, increasing the fears of blockchain tiny -term perspectives. In the event of a fight with my Memo projects, the Solana Ecosystem takes a hit, because these tokens have significantly contributed to the volume of transactions and network activity.

The best analytics of the income shared technical analysis into X, revealing that Solana is still taking place, assigning a decrease in a stern rinsing in the coins sector. Hype, which driven the Solan Price Rally in previous weeks, disappears and the liquidity dries when traders accept profits or reduce losses. If Solana does not maintain key levels of support, another leg may occur.

While long -term moods remain stubborn for salty, tiny -term price actions suggest that variability will be maintained. Investors watch carefully whether Solana can stabilize or further flaws are inevitable. The upcoming days will be of key importance to determine whether this correction is only a draft or the beginning of a deeper withdrawal.

Solana in the face of sales pressure

Solana trades at a key level after lasting days of pressure sales and increased variability. As one of the most popular Blockchains for the coin The creation and trade of Solana took advantage of the growing speculative interest in these assets. When the meme coins work well, Solana tends to raise demand, increasing its price. However, current market conditions are unfavorable for meme coins, which leads to a significant slowdown in the results of Solana’s price compared to other altcoins.

The best revenues of analysts provided technical analysis to xStating that the price of Solana still wants to lower when meme coins are in the face of stern rinsing. The wider cryptocurrency market entered the period of uncertainty, and the coin coin noise disappears when liquidity flows. This created additional pressure on Solana, because traders come out of high risk position.

Solana in the face of stern risk Source: Revenues for x

Solana has fallen by more than 15% over the past week, without maintaining a critical level of support when the bear is concerned. The price has recently dropped below 230 USD, removing weeks of profits. Revenues are determined by bears around USD 200, which is not perceptible from January 16. If Solana does not accommodate over USD 220, the sale can accelerate, bringing the price of the next main support zone.

However, not all analysts are bears. Some traders believe that the drainage is soothed with fleeting retration, and not the beginning of the prolonged inheritance. If the buyers reach around USD 220–225, Solana can stabilize and try to recover. The drain above USD 250 would indicate the renovated strength, and the bulls strive to return to previous ups.

Details of the price: showing strength

Solana (SOL) trads up to $ 231 after lasting days of sales of pressure and increased variability. The price reached the highest level of about USD 295 January 19, but since then the solo stood in the face of a piercing decline by 25% in less than ten days. This significant decrease caused concern among investors and investors, because Solana tries to find sturdy support among the wider uncertainty of the market.

SOL TETSING IMBEAL Liquidity Source: Solusdt chart on TradingView
Sol testing key fluidity Source: Solusdt chart on TradingView

In order for the bulls to regain control and reverse the tiny -term bear trend, SOL must stick to the current levels and exceed the USD 244 mark. Breaking this resistance would indicate renovated purchasing pressure and confirm the potential reversal of the trend. If the Sol manages to recover this level, there may be an raise in $ 260, signaling the recovery phase.

However, the lack of support above USD 230 may lead to a further decline. The break below this critical level exposes SOL to deeper losses, with another main support zone around the $ 200 sign. The decrease to this level would mean even more steep correction, potentially erasing more of its recent profits.

Recommended photo from Dall-E, Tradingview chart

Related

Leave a Reply

Please enter your comment!
Please enter your name here