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The action of Solana’s prices is flashing warning signals while the bearish pressure intensifies, threatening to push the activity below $ 125 critics Support level. Despite the previous recovery attempts, the sellers remain dominant, preventing any survey with significant rise.
If Sol cannot hold this key support, it could trigger a wave of panic sale, accelerate the losses and exposing the price to a deeper drop. With the feeling of the market hanging on balance, all eyes are found that the bulls can stage a defense or if the bears will finally break through, preparing the stage for a further disadvantage.
Solana in the course of a bearish trend
The Solana price graph is currently showing a formation of the bearish triangle, reporting a continuation of the downward trend. Initially, Sol tried to burst on the upper limit of the triangle, but the burst He was missing from a strong bullish moment, leading to a rapid refusal. This inability to support a move upwards pushed the asset towards the lower limit of the triangle, where the $ 118 support level is now focused.
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With the continuous sales pressure, Solana could face an extended bearish move, breaking below the current key support level and accelerating her decline. A rupture confirmed under the bearish triangle would lead to a drip Around $ 118, the first large support area. However, if the bearish moment intensifies, this level may not hold up.
Below $ 118, the next significant support lies at $ 99, in which some buyers may try to slow down the decline. If this level was unable to provide stability, Sol could slip towards $ 79, an area of psychological support and crucial technique.
Continuous weakness in the market feeling It can push the price even lower, with $ 58 at stake. For now, bulls It must intervene to defend these levels or risks of Solana an extended bearish phase.
Can $ 118 sparkle again bullish
The $ 118 support level emerged as a critical area for Sol, with many traders who look closely to see if it can trigger a bullish Turnaround. Historically, this level acted as a strong demand area, in which buyers intervened to absorb the sales pressure and push the higher prices. If a similar market behavior takes place, Sol could see a rebound from this point.
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According to Curb, in a X post On March 15, he provided that the eyes at Solana price decline at the support level of $ 118 before experiencing a potential rebound. He believes that the strong demand in this area could trigger a significant increase in prices for the sign of $ 1,000 in the long term.
The fundamental factors, such as the positive news about Solana’s ecosystem, the increase in the adoption of the network or the improvement of the overall sentiment of the market, could also act as catalysts for a recovery of prices. It is likely that an increase in the purchase of volume, in particular from whales and institutional investors, provides the momentum necessary to move the feeling of the market.
In the foreground image by Adobe Stock, TradingView.com graphic