Solana has been faced with incessant sales pressure since the end of January, destroying more than 40% of its value after reaching peaks of all time. Prices’ action remains down, Sol is struggling to find strong support because the wider market experiences volatility. Investors are increasingly careful, fearing that additional declines can follow if the key levels do not hold.
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However, analysts think that Solana could see rapid recovery if it manages to maintain its current structure. The upper analyst Daan shared a technical analysis on X, revealing that Solana always drags above a key diagonal trend and daily 200MA / EMA. This suggests that if Sol holds this area, it could resume strength and push higher in the coming weeks.
While Solana prices action has been worryingThe global structure always seems intact. If the market resumes momentum, Sol could quickly recover the lost ground and take another race towards its previous heights. The next few days will be crucial because investors will watch if Solana can defend its support levels or if a new drop is on the horizon. A strong rebound in the current levels could mark the start of a new bullish phase for ground.
Solana testing a crucial level
Solana has been negotiated in a critical area after falling by more than 14% since Tuesday, testing the last level of support that maintains its long -term bullish structure. Investors are concerned because the sales pressure is intensifying on the wider market of cryptography. If Sol does not hold its current level of demand, it could face sustained sales pressure, which causes a deeper correction.
Daan shared a Technical analysis on xNoting that Solana still holds above a diagonal trend line and everyday 200MA / EMA. As long as this area remains intact, the structure seems decent for a potential rebound. He stressed that these levels of support have historically played a crucial role in determining the trendy soil orientation, making it a key objective for merchants and investors.
However, Daan also underlined a technical concern concerning the two swings of the top of all time in 2021, which could indicate the uncertainty of the market. Despite this, he thinks that if the market finds a momentum, Solana could recover quickly and take another race for higher price levels.
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For the moment, the soil capacity to be maintained above key support levels will determine its short-term management. If the bulls manage to defend these areas and push the price above the resistance, a solid rebound could be at stake.
Sol price action: Technical levels to be maintained
Solana (soil) is traded at $ 192 after a volatile and lowering start until February. The price is currently being held on the 200-day exponential mobile average (EMA) and remains 5% above the simple 200-day mobile average (SMA), reporting that it is a critical moment for bulls to intervene and defend The long term orient itself.
If Sol manages to hold above these key indicators, the following objective for bulls will be to recover the bar of $ 200, a level of psychological and technical resistance. A successful push above this level would signal the strength and prepare the ground for greater recovery in the coming weeks.
However, if soil does not hold above the 200-day EMA and loses this crucial support, the price could face a significant drop towards the drop in demand areas around $ 170. This would confirm a deeper correction and prolong the bearish momentum that has dominated the market since the end of January.
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The market always under pressure, the soil capacity to defend its long -term mobile averages will determine its next movement. A rebound in these levels would indicate an upward resilience, while a rupture could speed up the sale pressure and push the price further in lower demand areas.
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