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Solana has faced tireless sales pressure since late January, eliminating more than 40% of its value after reaching high levels of all time. The price action remains recession, struggling to find strong support as comprehensive market experience with Sol. Investors are rapidly cautious, fearing that further decline may follow if the major levels fail to catch.
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However, analysts believe that Solana can see a fast recovery if he manages to maintain its current structure. Top analyst Dan shared a technical analysis on X, which revealed that Solana still hangs over a major diagonal line and daily 200MA/EMA. This suggests that if Soul holds this region, it can gain strength in the coming weeks and push more.
While the value of Solan is related to action, the overall structure still remains intact. If the market gains momentum, Sol can quickly regain lost ground and score another run towards its previous high level. The coming days will be important as investors see whether Solana may defend the level of support or if the front is on the horizon. A strong bounce from current levels can mark the onset of a new fast phase to the soul.
Solana an important level test
Solana is trading in an important area after a fall of more than 14% from Tuesday, testing the final support level that maintains its long -term rapid structure. Investors are getting worried as the sale pressure widespread the widespread crypto market. If SOL fails to hold its current demand level, it can withstand continuous sales pressure, possibly leading to an intensive improvement.
Dan shared Technical analysis on xGiven that Solana is still holding a diagonal trend line and over 200MA/EMA daily. As long as this area remains intact, the structure looks decent for a possible rebound. He emphasized that these support levels historically played an important role in determining the tendency direction of Sol, making them a significant focus to traders and investors.
However, Dan also explained a technical concern about two sweeps of 2021 all-time high, which could indicate the uncertainty of the market. Despite this, they believe that if the market gains momentum again, Solana may quickly recover and score another run towards a high value level.
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For now, SOL’s ability to keep above the major support levels will determine its short -term direction. If bulls manage to protect these areas and push the price above resistance, a strong rebound can occur in the game.
Sol Price Action: Technical Level to Hold
Solana (Soul) is trading at $ 192 after a unstable and recession starts by February. The price is currently being done on the 200-day Exonteal Moving Average (EMA) and is 5% above the 200-day simple moving average (SMA), indicating that it is an important moment for the bull that is a long-term step. Keeps and defends trends.
If SOL manages to place these major indicators, the next objective for bulls will regain a $ 200 mark, a psychological and technical resistance level. A successful push above this level will indicate strength and determine the platform for a large recovery in the coming weeks.
However, if Soul fails to keep above the 200-day EMA and loses this significant support, the price may withstand a significant decline towards low demand areas around $ 170. This will confirm a deep improvement and expand the recession speed dominating the market from the end of January.
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Still under pressure, with the market, Sol’s ability to protect the long -term moving average will determine its next step. A rebound from these levels will indicate rapid flexibility, while a breakdown can accelerate sales pressure and can further extend the price to low demand areas.
Specially displayed image from Dall-E, chart from tradingview
