Solana (SOL) is enduring steep declines, trading at historically low prices from September 2024 as the crypto market sees fear-induced selling. The cryptocurrency has lost over 55% in less than six weeks, reversing its post-election gains and heightening concerns of a sustained downturn among investors.
Technical analyst Ali Martinez indicates a macro trend shift from bullish to bearish, noting Solana's struggles to maintain key support levels. The price, currently between $120 and $220, remains susceptible to a bearish phase unless bulls reclaim crucial zones.
Bears have upheld control, and the $120 level is pivotal. Failure to hold above this support could mark a deeper correction, whereas regaining $160 would shift optimism back. The market awaits confirmation on Solana's next move amid broader uncertainty.
Sursă: www.newsbtc.com ↗