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|---|---|
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Category: CRYPTO NEWS
The post Solana faces rejection at $180 resistance: eyes on $125 support appeared on BitcoinEthereumNews.com. Solana has shown a potential deviation at the key $180 resistance level, with price briefly closing above before quickly falling back below. This signals a likely rotation toward major support near $125 if the level fails to be reclaimed. Solana (SOL)is at a critical juncture after encountering strong resistance at the $180 level. Recent price action reveals a deviation pattern where the price temporarily closed above $180 but was unable to sustain the move and promptly fell back below. This type of behavior suggests sellers are aggressively defending the level, raising the likelihood of a retracement toward lower support zones. Key technical points Resistance Deviation: Price action showed a counter candle close above $180, followed by a close below, confirming a rejection at this resistance. Support Zone: $125 represents a major macro daily support level that acts as a technical high or low on the longer-term trend. Moving Average Watch: The 200-day moving average is a critical level; losing it would increase the likelihood of further downside momentum. SOLUSDT (1D) Chart, Source: TradingView The recent price action near $180 is a textbook example of a deviation, where an initial bullish close above resistance is immediately reversed by selling pressure. This signals that bulls are struggling to break through, and $180 remains a firm ceiling. If this level is not reclaimed decisively, the probability of a deeper pullback increases. The next major area to watch is the $125 support zone. This level holds significant technical weight, as it coincides with prior macro support on the daily timeframe. Traders often consider such zones strong entry points, anticipating a bounce or reversal following a healthy correction within an overall bullish structure. This reflects the concept of “bullish selling,” where pullbacks into support are seen as part of a sustained uptrend. In addition, the…
2025-05-16T02:41:14+00:00