Solana (soil) was under pressureRecently dropped to a three -month lower $ 160. Many traders are frustrated by this drop, especially since soil was negotiated nearly $ 293 in January. However, according to Santiment, a well-known market intelligence platform, this negative feeling could open the way to a rebound.
Are merchants too downgraded on Solana?
Santiment reports that Solana’s feeling has currently been at its lowest level since January 20, when the market has experienced lively withdrawal. This means that a large number of traders have become extremely downgrad, expecting soil that continues to fall.
Discussions on social media around Solana also increased, showing that many people pay particular attention to the difficulties of the token, referring to a losing confidence in Solana.
Interestingly, in the past market trends, extreme lower feeling has often been followed by a price resumption. When most traders expect new losses, the market tends to move in the opposite direction.
This model has already been seen, where the sale of panic creates opportunities for smart investors to buy at lower prices before a recovery.
Technical soil analysis indicates an optimistic sign
Solana (soil) was stuck in a downward trend for a while, forming a clear scheme of lower ups and lower stockings. However, technical indicators suggest that a recovery could be on the horizon.
One of the greatest signs of a possible turnaround is the index of relative force of 4 hours (RSI). Although the price has made lower lower, the RSI forms higher stockings, which indicates that the sales pressure can be discolored.
If soil manages to break above the key Resistance at $ 173It could point out the start of a new upward trend. The next main resistance levels to monitor are $ 195.81 and $ 216.90, which corresponds to the consolidation areas of previous prices.
For the moment, all eyes are on Solana’s next movement. If the lowering feeling persists while prices stabilize, a recovery could be on the horizon.
