Solana (SOL) Crashes Back To $112, A Level That Could Decide Everything
Solana failed to settle above $125 and extended losses. SOL price is now consolidating losses below $120 and might struggle to start a recovery wave. SOL price started a fresh decline below $120 and $115 against the US Dollar. The price is now trading below $120 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $116 on the hourly chart of the SOL/USD pair (data source from Kraken). The price could start a recovery wave if the bulls defend $112 or $105. Solana Price Dips Again Solana price failed to remain stable above $125 and started a....
Related News
An analyst has pointed out how a sort of supply “air gap” exists for Solana below $144, with no major on-chain support levels until much lower. Solana URPD Reveals Supply Chasm Below $144 In a new post on X, analyst Ali Martinez has talked about how Solana support is looking from an on-chain lens. In on-chain analysis, the potential of any price level to act as support or resistance lies in the amount of coins that investors last purchased at it. Related Reading: Bitcoin Crashes To $98,000 As HODLer Selling Accelerates The reasoning behind this is that holders look at their....
Solana (SOL) has seen a nearly 40% retrace over the past month, losing key support levels since February. As its price retests a key horizontal level, some analysts warn of a potential 50% correction to a yearly low. Related Reading: Solana Falls Under Realized Price: Here’s What Happened Last Time Solana Loses Key Support Level Solana has been one of the leading cryptocurrencies of the cycle, fueled by the market’s memecoin frenzy. The altcoin climbed over 270% in a year to its latest all-time high (ATH) of $270, registered nearly two months ago. Nonetheless, SOL’s bullish sentiment has....
Solana has taken a breather after a sharp 20% sell-off, with the price now stabilizing at a technically significant zone. As volatility cools and consolidation sets in, the market is watching closely to see whether this level acts as a launchpad for a recovery or opens the door to further downside. The next move from here could define SOL’s short-term direction. VAH Rejection Sends SOL Back Into Range Market expert Umair Crypto explained that Solana’s rejection at the Value Area High (VAH) near $141 set the tone for the recent move. After briefly extending to $148, SOL once again failed to....
On August 29, flagship cryptocurrency Bitcoin soared to as high as $28,000 following Grayscale’s victory. However, it has now lost these gains as the US Securities and Exchange Commission (SEC) chose to delay its decisions on seven Spot ETF applications. Bitcoin Crashes Below $26,000 Bitcoin dropped by over 4% to $26,000 as the SEC extended the timeline to decide on the ETF applications of BlackRock, WisdomTree, Invesco, Fidelity, Valkyrie, VanEck, and Bitwise. Related Reading: Dogecoin And Bitcoin Become Latest Additions To Robinhood Wallet This price action contrasts with when the....
Solana (SOL) recently experienced a price pullback after failing to break below the crucial $118 support level. This rebound indicates strong buying interest at this support level, preventing further declines and stabilizing the price. The $118 mark has proven to be a resilient support, with market participants closely watching Solana’s price action for signs of […]