Solana (SOL) is currently experiencing a significant decline, dropping over 17% and reaching the critical $118 support level. This sharp downturn has put considerable pressure on this key level, raising concerns among traders and investors about the possibility of a further breakdown. The $118 level has historically been a stronghold for the cryptocurrency, but with the current bearish sentiment in the market, its ability to hold is still being determined. With the help of key technical indicators, this article will provide an in-depth analysis of Solana’s current price actions, assess the likelihood of breaking the $118 support, and explore potential scenarios for SOL. As of the time of writing, Solana has dropped by 17%, trading at approximately $119.78 in the past 24 hours. Solana boasts a market capitalization exceeding $54 billion, which demonstrates a decrease of 18.45% and a trading volume surpassing $9.4 billion, indicating an increase of 182.21% in the past 24 hours. Technical Analysis: Indicators Pointing To A Potential Break For Solana On the 4-hour chart, Solana has demonstrated significant bearish momentum, with the price dropping below the 100-day Simple Moving Average (SMA) and cur ..
Support the originator by clicking the read the rest link below.
