Key Takeaways:
- Solana’s price is $139.92, down 4.47% in one day.
- The $130-$140 zone is an important support level for the price.
- If Solana breaks above $145, it could rise, but dropping below $130 may lead to bigger losses.
Solana (SOL) has been experiencing significant market fluctuations lately. Right now, its price is sitting at $139.92, which is a 4.47% decline in the last 24 hours.
Its total market cap has dropped by 4.15%, which is $71.56 billion, with a trading volume of $3.1B, showing a slowdown in market activity
However, even though the price has fallen, Solana is still one of the top digital assets by market size and adoption.
Technical Analysis Shows Critical Support and Resistance
Looking at Solana’s price chart, there’s a strong support zone between $130 and $140. Showing that price has bounced off this level multiple times. If this level holds, It could provide a foundation for Solana to rise to $150 or even higher. However, a break below this support may lead to further declines.
On the other hand, there is a resistance level at $153 and $180, an area that has served as a struggle for price moving upward. The moving average (EMAs) shows that the market is at a decision point, with the 50 EMA suggesting a move to the upside but the 200 EMA saying otherwise.
Market Sentiment and Future Outlook
Traders still have mixed feelings about what comes next for Solana and are watching closely at key levels to figure out its future direction.
The Relative Strength Index (RSI), shows that Solana is neither overbought nor oversold. This suggests the market is in balance, waiting for a trigger to decide the next trend.
If buyers gain control, a breakout above $145 could push SOL higher. However, if selling pressure increases, the prices might fall below the support level.
