Solana Loses Long-Term Support Level – Analyst Shares Insights
Solana has had its lowest trading levels since September 2024, with extreme fear and sales pressure dominating the market. Since breaking all-time highs in January, Sol has traced over 55% to get the Bulls working to regain momentum. The wider cryptocurrency market faces a period of uncertainty, and Solana has been one of the most intense altcoins to be affected in recent weeks.
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The bear has been in control and has been lowering its prices as investors lose confidence. The once-explosion meme coins pushed the drive for Solana’s rally, which has now become a major headwind, speeding up the sell-off and preventing a steady recovery. Analysts believe that further declines may occur, especially if SOL fails to retract critical support levels.
Top analyst Jelle shared a technical analysis on X and pointed out that Solana’s demand levels are below the critical demand levels, indicating the risk of adding additional disadvantages. According to Jer SOL’s current price structure It is implied that bears still have control and that lower target targets may work unless a strong rebound occurs soon. As market sentiment is at a very low low, everyone’s eyes are watching whether it can stabilize or whether it will inevitably decline.
The market turns bearish Solana
Solana trades below the key demand level that previously maintained its long-term bullish structure. The bulls lost control and the bears continued to dominate, lowering the entire market. SOL has dropped more than 55% since reaching an all-time high in January, eliminating months of earnings and extreme fears from investors. As sales pressures intensify, Solana has become one of the most hit altcoins, with meme coins suffering the greatest pain. The speculative madness that once fueled Solana’s surge has now become a major risk, with carpet pull and liquidity issues shaking investor confidence.
Jelle’s analysis of X It was revealed that when he sold his Sol bag, he did not expect the price to drop. He also noted that Solana lost both monthly and weekly support levels, which could indicate further declines. These segments below key demand zones have exacerbated bearish sentiment, making recovery more difficult in the short term.
The upcoming week is crucial for Solana’s price action as the market is becoming increasingly bearish. If Sol fails to recoup lost support, it could face another wave of sales pressure that could push it to a lower demand zone around $140. However, if the Bulls manage to regain control and delay the price to more than $185, it could trigger a short-term relief rally.
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As broader market struggles and uncertainty rises, Solana’s next move will determine whether it can stabilize or continue its downward trajectory. Investors remain cautious as fear predominates, but some still believe in potential recovery if market conditions improve. The next few days will be crucial to determine Solana’s fate in this turbulent market.
Price is difficult to hold $140
Solana traded at $139 after a brutal sell-off, down more than 22% since Sunday. The entire cryptocurrency market is hit by extreme sales pressure, but SOL struggles more than other altcoins. The bearish momentum is still strong and the Bulls find it difficult to establish a clear support zone.
If Solana can keep above the $140 mark, a short-term recovery is possible. The Bulls must step in and raise the price above $150 to signal and prevent further disadvantages. However, the current sentiment is still weak and any failure to recover lost levels could lead to further declines.
If Sol loses $140, the location of the next major demand zone is about $125-$130. Breaking through this level will confirm a deeper correction, which may push SOL to its lowest price since August 2024. As market volatility increases, investors are becoming more cautious, while Solana’s price action remains uncertain.
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Currently, traders are paying attention to signs of potential rebounds, but the risk of sustained decline remains high. If the broader market does not recover quickly, Solana may continue to face downward pressure, testing support levels even lower in the next few days.
Featured images from DALL-E, charts from TradingView
