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|---|---|
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Category: CRYPTO NEWS
The post Solana Will Drop To $211 If It Fails To Break Key Resistance Level – Analyst appeared on BitcoinEthereumNews.com. Solana (SOL) is facing severe selling pressure as it tests key demand levels, with bears gaining control after a failed breakout above all-time highs. The price has struggled to maintain momentum, and investors are now watching for critical support levels that could determine Solana’s next move. Related Reading After an explosive rally earlier this year, SOL is now at risk of breaking lower as market sentiment turns uncertain. Top analyst Carl Runefelt shared a technical analysis on X, revealing that Solana might retest a horizontal resistance if it breaks down a bearish flag pattern. This key level will be crucial in determining whether SOL can hold its ground or if it will be dragged into a deeper correction. If the bearish flag confirms a breakdown, SOL could drop to test lower demand zones, leading to further downside pressure. However, if bulls manage to reclaim key resistance levels, a potential recovery could be on the table. The coming days will be critical for Solana as traders look for signs of a trend reversal or continued bearish momentum. Solana Enters A Critical Phase Solana is at a crucial phase, with the next few days set to define whether it will continue its downtrend or establish a structural price change. After failing to sustain its bullish momentum above all-time highs, bears have taken control, pushing SOL into key demand levels. The price has now dropped to $220, and analysts are warning that lower levels may come in the following weeks. Top analyst Carl Runefelt shared a technical analysis on X, highlighting that Solana might retest horizontal resistance around $222 if it breaks down a daily bearish flag. If this bearish pattern plays out, SOL could drop even further to test the $211 level, a major demand zone that will likely decide the trend’s…
2025-02-02T09:44:07+00:00
https://bitcoinethereumnews.com/tech/solana-will-drop-to-211-if-it-fails-to-break-key-resistance-level-analyst/?utm_source=rss&utm_medium=rss&utm_campaign=solana-will-drop-to-211-if-it-fails-to-break-key-resistance-level-analyst