Solana (SOL) faces potential risk of falling to $125-130 after testing resistance at $143
Solana (SOL) is currently experiencing a sharp decline, with traders and analysts worried that it could fall to the $125-130 support area.
The recent bearish sentiment has further intensified due to lower demand and reduced network activity, which has had a significant impact on the value of SOL.
As analysts highlighted, “The decline in total lock-in value (TVL), coupled with a 38% reduction in DEX activity, suggests that Solana has difficulty regaining its upward momentum.”
Current Market Analysis by Solana (SOL): A Careful Study of Key Price Levels
Solana (SOL)'s continued bearish pressure has caused it to suffer significant losses as the cryptocurrency struggles to maintain momentum above the key resistance level. After a sharp drop from around $180, many analysts are watching closely for SOL to hold the $135 support level, which seems to be the key to a potential recovery.
Technical indicators and market sentiment: Recent trend insights
A deeper study of balanced trading volume (OBV) shows that the market has been on a sustained downward trend since January, which has raised concerns about further declines.
Although the Relative Strength Index (RSI) is oversold, which usually indicates a possible rebound in the market, current market sentiment remains cautious. The loss of key Fibonacci retracement levels suggests that traders should be prepared based on possible targets at historical performance around $120.
Can Solana rebound?
As SOL's price falls below the critical $180 mark, many investors are eager to determine whether it can return to stability. Current forecasts suggest that if SOL successfully breaks the $150 threshold, it may start stabilizing in the $140-160 range, potentially attracting liquidity and interested buyers.
