Solana Faces Key Support Pressure Below $120
- Price Volatility Analysis: Solana is currently trading around $116.9 after a sharp sell-off that has pushed the price back toward a critical structural area, with the market attempting to stabilize, yet the rebound appears fragile and corrective rather than impulsive.
- Short-Term Support Levels: On the 4-hour chart, Solana is consolidating between $116 and $118 after a swift drop, with the recent decline accompanied by elevated sell-side volume indicating aggressive distribution; immediate support sits near $114-$116, which may lose reliability if tested again.
- Long-Term Market Structure: From a broader perspective, Solana's failure to reclaim the $145-$147 key level confirms a bearish market structure, and the loss of the former support at $120 increases the risk of further downside continuation.
- Future Scenario Analysis: If Solana can reclaim and hold above $120, it may bounce back towards $125-$128; however, a sustained break below $114 and acceptance under $112 would significantly weaken the support structure, opening downside risk toward the psychological $100 level.
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Technical Analysis for SOL
Technical Sentiment Analysis for Solana (SOL) As of , Solana (SOL) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Solana (SOL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 17.557 | 42.528 | 69.177 | 94.148 | 120.797 | 145.768 | 172.417 |
| Fibonacci | 42.528 | 62.247 | 74.429 | 94.148 | 113.867 | 126.049 | 145.768 |
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